Question - The following information was taken from Bounders Company cash budget for the month of July: Beginning cash balance $50,000 Cash receipts 48,000 Cash disbursements 68,000 If the company has a policy of maintaining an end of the month cash balance of $50,000, how much will the company need to borrow during July?
a) $20,000
b) $10,000
c) $30,000
d) $12,000