Business, 31.03.2020 03:40 madisonwr

Solomon Medical Clinic has budgeted the following cash flows: January Cash receipts $ 114,000 Cash payments For inventory purchases 97,000 For S&A expenses 38,000 For Interest expense 1,200 Solomon Medical had a cash balance of $15,000 on January 1. The company desires to maintain a cash cushion of $7,000. Funds are assumed to be borrowed and repaid on the last day of each month. Required a. Calculate the company's surplus (shortage) of cash before financing for the month of January. b. How much does the company need to borrow at the end of January to maintain its cash cushion?

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Solomon Medical Clinic has budgeted the following cash flows: January Cash receipts $ 114,000 Cash p...

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