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What is the minimum cash loan that must be planned

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Problem 1: During December, the capital budget indicates a $279600 purchase of equipment for cash. The ending November cash balance is budgeted to be $40800. Cash receipts are $840700, and cash disbursements are $609100 during December. The company wants to maintain a minimum cash balance of $20000. What is the minimum cash loan that must be planned to be borrowed from the Bank during December?

Option 1: $27200
Option 2: $7200
Option 3: $48000
Option 4: $0

Reference no: EM132761697

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