Romeiro Corporation is preparing its cash budget for September. The budgeted beginning cash balance is $46,000. Budgeted cash receipts total $160,000 and budgeted cash disbursements total $152,000. The desired ending cash balance is $70,000. The company can borrow up to $120,000 at any time from a local bank, with interest not due until the following month.Required:Prepare the company's cash budget for September in good form.
What will be an ideal response?
| Beginning cash balance | $ | 46,000 |
| Add cash receipts | 160,000 | |
| Total cash available | 206,000 | |
| Less cash disbursements | 152,000 | |
| Excess (deficiency) of cash available over disbursements | 54,000 | |
| Borrowings | 16,000 | |
| Ending cash balance | $ | 70,000 |
Business
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