Western Company is preparing a cash budget for June. The company has $10,000 cash at the beginning of June and anticipates $32,000 in cash receipts and $38,500 in cash disbursements during June. Western Company has an agreement with its bank to maintain a minimum cash balance of $10,000. As of May 31, the company owes $15,000 to the bank. To maintain the $10,000 required balance, during June the company must: Multiple Choice Borrow $10,000. Repay $3,500. Borrow $6,800. Borrow $6,500. Repay $6,500.
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