Boris runs a small manufacturing operation, producing and selling machine parts to European companies. At the start of April, his bank account had an overdrawn bank balance of $2,500. His bank has asked him to produce a budgeted bank balance for the end of April. Boris estimates that his customers will pay him $41,000 of what is owed while he will pay his suppliers $26,000 during the month. What is Boris's budgeted bank account balance at the end of April? $17,500 overdrawn $12,500 overdrawn $12,500 positive balance $17,500 positive balance
Boris runs a small manufacturing operation, producing and selling machine parts to European companies. At the start of April, his bank account had an overdrawn bank balance of $2,500. His bank has asked him to produce a budgeted bank balance for the end of April. Boris estimates that his customers will pay him $41,000 of what is owed while he will pay his suppliers $26,000 during the month. What is Boris's budgeted bank account balance at the end of April? $17,500 overdrawn $12,500 overdrawn $12,500 positive balance $17,500 positive balance
Chapter7: Budgeting
Section: Chapter Questions
Problem 14EA: Halifax Shoes has 30% of its sales in cash and the remainder on credit. Of the credit sales, 65% is...
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Boris runs a small manufacturing operation, producing and selling machine parts to European companies. At the start of April, his bank account had an overdrawn bank balance of $2,500. His bank has asked him to produce a budgeted bank balance for the end of April. Boris estimates that his customers will pay him $41,000 of what is owed while he will pay his suppliers $26,000 during the month. What is Boris's budgeted bank account balance at the end of April?
$17,500 overdrawn
$12,500 overdrawn
$12,500 positive balance
$17,500 positive balance
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