Planned to be borrowed from the bank during december

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Q. During December, the capital budget indicates a $280,000 purchase of equipment. The ending November cash balance is budgeted to be $40,000. Cash receipts are $840,000 also cash disbursements are $610,000 during December. The organization wants to maintain a minimum cash balance of $20,000. Illustrate what is the minimum cash loan that must be planned to be borrowed from the bank during December?

Reference no: EM1388827

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