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During September, the capital expenditure budget indicates a $280,000 purchase of equipment. The ending September cash generated from operations is budgeted to be $40,000.
During September, the capital expenditure budget indicates a $280,000 purchase of equipment. The ending September cash generated from operations is budgeted to be $40,000. The company wants to maintain a minimum cash balance of $20,000. What is the minimum cash loan that must be planned to be borrowed from the bank during September? a) $300,000 b) $240,000 c) $260,000 d) $220,000
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