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At the beginning of September, the cash balance is $15,450; expected cash receipts for the month are $220,000; and disbursements are expected to be $240,000,
At the beginning of September, the cash balance is $15,450; expected cash receipts for the month are $220,000; and disbursements are expected to be $240,000, including $5,000 of depreciation. Not included in the disbursements number is an additional $12,000 for tax payments that must be made in September. How much cash,if any, must Pasadena Window borrow in September to maintain the desired minimum balance of $13,000?
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