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Glbsen borrows funds, in increments of $1,000, and repays them on the last day of the month. Repayments may be made in any amount avallable.

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Glbsen borrows funds, in increments of $1,000, and repays them on the last day of the month. Repayments may be made in any amount avallable. The company also pays its vendors on the last day of the month. It pays interest of 2 percent per month in cash on the last day of the month. To be prudent, the company desires to maintain a $19,000 cash balance. Prepare a cash budpet. Note: Any ropayments/shortage which should be indicated with a minus sign

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