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What is the minimum loan that must be borrowed

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Question - The ending November cash balance is budgeted to be $40,000. The company wants to maintain a minimum cash balance of $20,000 at all times. During December cash receipts are $840,000, and cash disbursements are $610,000. What is the minimum loan that must be borrowed from the bank to purchase equipment for $280,000?

Reference no: EM133123650

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