Based on the information in Table 3, what is Thompson's projected cumulative borrowing as of March 1, 2017?
A) $85,000
B) $45,000
C) $70,000
D) - 0 -

Question

Quizplus · Accepted Answer

According to Table 3, Thompson's cumulative borrowing as of December 31, 2016 was $45,000, and their total borrowing for January and February 2017 was $25,000 and $15,000 respectively, which equals to $40,000. Adding this to the cumulative borrowing as of December 31, 2016, we get $45,000 + $40,000 = $85,000. Thus, Thompson's projected cumulative borrowing as of March 1, 2017 is $70,000 (Option C).

Based on the Information in Table 3, What Is Thompson's