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Crane Company management wants to maintain a minimum monthly cash balance of $20,800. At the beginning of April, the cash balance is $20,800, expected cash
Crane Company management wants to maintain a minimum monthly cash balance of $20,800. At the beginning of April, the cash balance is $20,800, expected cash receipts for April are $245,600, and cash disbursements are expected to be $254,400. How much cash, if any, must be borrowed to maintain the desired minimum monthly balance? Amount to be borrowed to maintain the desired minimum monthly balance $ eTextbook and Media
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