Aspirations, Inc. provides life coaching to its clients. As Aspirations is budgeting for December, the budgeted beginnin

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Aspirations Inc Provides Life Coaching To Its Clients As Aspirations Is Budgeting For December The Budgeted Beginnin 1 (27.68 KiB) Viewed 9 times

Aspirations, Inc. provides life coaching to its clients. As Aspirations is budgeting for December, the budgeted beginning cash balance Is $18,000. The company is budgeting cash receipts during December of $109,000 and cash disbursements of $94,000. Aspirations, Inc. desires an ending cash balance of $55,000, and they have made arrangements with a bank to borrow up to $60,000 when needed. The agreement stipulates that interest will not be due until the following month. Required: Prepare the Aspirations, Inc.'s cash budget for December. Include any borrowing needed to achieve Aspiration's desired ending cash balance. Beginning cash balance Add cash receipts Total cash available Less cash disbursements Excess (deficiency) of cash available over disbursements Borrowings Ending cash balance