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American company is preparing a cash budget for july the

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American Company is preparing a cash budget for July. The company has $11,000 cash at the beginning of July and anticipates $31,500 in cash receipts and $37,500 in cash disbursements during July. American Company has an agreement with its bank to maintain a cash balance of at least $10,000. As of June 30, the company owes $35,000 to the bank. To maintain the $10,000 required balance, during July the company must?

Reference no: EM13589518

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