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Crane Manufacturing Company's policy is to maintain a safe minimum end of the month cash balance of $53000. Its May cash budget information is
Crane Manufacturing Company's policy is to maintain a safe minimum end of the month cash balance of $53000. Its May cash budget information is as follows: Beginning cash balance, $61000; cash receipts, $33000; and cash disbursements, $43000. The budgeted financing amount the company would have to borrow from the bank in May is $53000. $0. $2000. $18000.
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