The Haines City payment schedule shows vendor bills due of $144,600. Cash available is $168,000, but management wants a $19,600 cash floor. How much cash remains after paying the due bills?
Correct Answer
B) $23,400
$168,000 − $144,600 = $23,400 cash remains. That is $3,800 above the $19,600 floor. A reserve target is not a cash outflow, so subtracting it answers a different question.
Why This Is the Correct Answer
$168,000 − $144,600 = $23,400 cash remains. That is $3,800 above the $19,600 floor. A reserve target is not a cash outflow, so subtracting it answers a different question.
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