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Chen Company is preparing its cash budget for August. The budgeted beginning cash balance is $27,000. Budgeted cash collections (cash receipts) total $181,000 and budgeted
Chen Company is preparing its cash budget for August. The budgeted beginning cash balance is $27,000. Budgeted cash collections (cash receipts) total $181,000 and budgeted cash disbursements total $169.000. The required minimum cash balance at the end of the month is $50,000. How much will the company need to borrow to achieve its required ending cash balance for August? Multiple Choice $89.000 $50,000 $0 $11,000
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