Kimberely needs to put together the cash budget for quarter two, but she can't find...
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Accounting
Kimberely needs to put together the cash budget for quarter two, but she can't find the bank statement listing the required minimum balance. she knows she has to consider that requirement when determining any budgeted financing, so she looks at the previous quarter's cash budget to figure it out. She finds the following information on the Q1 budget: Beginning cash balance, $11,000; budgeted cash receipts, $209,600; budgeted cash disbursements, $214,600; and budgeted financing, $5,000. Recognizing the bank only allows withdrawals from the company's line of credit in $1,000 increments, how much is the required minimum balance?
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