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Laurey Inc. is working on its cash budget for May. THe budgeted beginning cash balance is $48,000. Budgeted cash receipts total $132,000 and budgeted cash
Laurey Inc. is working on its cash budget for May. THe budgeted beginning cash balance is $48,000. Budgeted cash receipts total $132,000 and budgeted cash disbursements total $127,000. The desired ending cash balance is $66,000. To attain its desired ending cash balance for May the company needs to borrow:
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