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Solution Library
Calculation Of Loan Repayment By A Company
Question
GS Cookie Co. forecasts cash receipts for January and February of $18,000 and $20,000, respectively. Cash Payments of $6,000 and $8,000 are expected in these two months. GS Cookie's cash balance at the beginning of January was $5,000, a level that it attempts to maintain. At the beginning of the year, GS Cookie has a $15,000 balance outstanding on its line of credit at the local bank. Based on its cash budget, how much of the line of credit can GS Cookie repay in January and February?
a). $15,000
b). $9,000
c). $4,000
d). None, GS Cookie must increase its borrowings.
Summary
The question belongs to Accounting and it discusses about calculation of loan repayment by a company.
Total Word Count 18
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