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Marsha Corporation expects $ 2 , 8 0 0 , 0 0 0 in cash receipts this year and has $ 2 , 6 0

Marsha Corporation expects $2,800,000 in cash receipts this year and has $2,600,000 budgeted in cash disbursements. Marsha begins the year with $500,000 in cash and has a policy of keeping 15% of next years sales in the ending cash balance for the year. Next years sales are budgeted at $8,500,000. Will Marsha Corporations have to borrow money and if so, how much?

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