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Freet Inc. is preparing its cash budget for November. The budgeted beginning cash balance is $23,000. Budgeted cash receipts total $114,000 and budgeted cash disbursements total $89,000. The desired ending cash balance is $65,000. The company can borrow up to $110,000 at any time from a local bank, with interest not due until the following month. Required: Prepare the company's cash budget for November in good form. Make sure to indicate what borrowing, if any, would be needed to attain the desired ending cash balance.

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Tundexi

Answer:

Particulars                                  Amount

Beginning cash balance            $23,000

Add: Cash balance                     $114,000

Total cash available                   $137,000

Less: Cash Disbursement          $ 89,000

Excess (Deficiency) of cash       $48,000

available over disbursements

Borrowings                                  $17,000

($65,000 - $48,000)

Ending cash balance                  $65,000

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