The following information was reported in a cash budget:
| Beginning cash balance | $280,000 |
| Cash payments | 533,000 |
| Cash receipts | 370,000 |
| Minimum cash balance desired | 200,000 |
How much cash will the company have to borrow in order to meet its required needs? Answer
| a. | $83,000 | |
| b. | $0 | |
| c. | $163,000 | |
| d. | $103,000 |