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Determine what is minimum cash loan that must be planned

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Reference no: EM132520544

Question 1: During December, the capital budget indicates a $279000 purchase of equipment for cash. The ending November cash balance is budgeted to be $40600. Cash receipts are $840200, and cash disbursements are $609900 during December. The company wants to maintain a minimum cash balance of $19700. What is the minimum cash loan that must be planned to be borrowed from the Bank during December?

Option 1: $27800

Option 2: $8100

Option 3: $48700

Option 4: $0

Reference no: EM132520544

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