Cooper Apple Growers (CAG) is

timer Asked: Nov 10th, 2015

Question description

Cooper Apple Growers (CAG) is a major food cooperative. Suppose CAG begins 2011 with cash of $8 million. CAG estimates cash receipts during 2011 will total $103 million. Planned payments will total $86 million. To meet daily cash needs next year, CAG must maintain a cash balance of at least $20 million. Prepare the organization’s cash budget for 2011.

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