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Hull Corporations management wants to maintain a minimum monthly cash balance of $9,400. At the beginning of September, the cash balance is $14,417; expected cash
Hull Corporations management wants to maintain a minimum monthly cash balance of $9,400. At the beginning of September, the cash balance is $14,417; expected cash receipts for September are $114,210; cash disbursements are expected to be $135,125. How much cash, if any, must Hull borrow to maintain the desired minimum monthly balance? Determine your answer by using the basic form of the cash budget.
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