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g. Using a line of credit, HCC borrows and repays principal in increments of $1,000 on the last day of the month as needed.
g. Using a line of credit, HCC borrows and repays principal in increments of $1,000 on the last day of the month as needed. It pays interest of 1 percent per month in cash on the last day of the month: Company policy is to maintain an ending cash balance of at least $10,000. Use this information and the schedules prepared in requirements b, d, and f to prepare a cash budget.
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