How much cash must best goods borrow to maintain the desired

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Question

Best Goods management wants to maintain a minimum monthly cash balance of $11,200. At the beginning of September, the cash balance is $17,178, expected cash receipts for September are $136,080, and cash disbursements are expected to be $161,000.

How much cash, if any, must Best Goods borrow to maintain the desired minimum monthly balance? Determine your answer by using the basic form of the cash budget.

Reference no: EM132409516

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