Western Company is preparing a cash budget for June. The com…

Western Company is preparing a cash budget for June. The company has $12,000 in cash at the beginning of June and anticipates $30,000 in cash receipts and $34,500 in cash payments 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 has no loans outstanding. To maintain the $10,000 required balance, during June the company must:

Consider the following loan scenario for Questions 36 throug…

Consider the following loan scenario for Questions 36 through 39: Loan Amount: $300,000 Interest Rate: 10% Term to Maturity: 25 Years Monthly Debt Service: $2,726 Frequency Debt Paid: Monthly What would be the loan balance for the beginning of month two (end of month one)?