Do It! Review 21-4 Batista Company management wants to maintain a minimum monthly cash balance of $20,200.
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Question:
Batista Company management wants to maintain a minimum monthly cash balance of $20,200. At the beginning of April, the cash balance is $21,400, expected cash receipts for April are $245,000, and cash disbursements are expected to be $255,300.
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 $________
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