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How much money will sydney ltd borrow in june

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Question - Sydney Ltd has provided you with the following budget information for June:

Cash collections $876,000

June 1 cash balance $23,000

Cash disbursements $978,600

Sydney Ltd has a policy of maintaining a minimum cash balance of $20,000 and borrows only in $1,000 increments. How much money will Sydney Ltd borrow in June?

Reference no: EM132082181

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