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Question 1: During December, the capital budget indicates a $280500 purchase of equipment for cash. The ending November cash balance is budgeted to be $40000. Cash receipts are $839700, and cash disbursements are $610800 during December. The company wants to maintain a minimum cash balance of $20100. What is the minimum cash loan that must be planned to be borrowed from the Bank during December?
option a) $31700
option b) $11600
option c) $51600
option d) $0
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