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4. Wolfe Company has a cash balance of $18,000 on April 1. The company is required to maintain a minimum cash balance of $12,000. During
4. Wolfe Company has a cash balance of $18,000 on April 1. The company is required to maintain a minimum cash balance of $12,000. During April expected cash receipts are $90,000. Expected cash disbursements during the month total $104,000. During April the company will need to borrow: a. $4,000. b. $6,000. c. $8,000. d. $14,000. Determine the Amount that the company will need to borrow during April as follows
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