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Lily Company management wants to maintain a minimum monthly cash balance of $27,500. At the beginning of April, the cash balance is $27,500, expected cash
Lily Company management wants to maintain a minimum monthly cash balance of $27,500. At the beginning of April, the cash balance is $27,500, expected cash receipts for April are $269,500, and cash disbursements are expected to be $280,500. How much cash, if any, must be borrowed to maintain the desired minimum monthly balance? Amount to be borrowed to maintain the desired minimum monthly balance $
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