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On January 1, Waterway Industries has a beginning cash balance of $196000. During the year, the company expects cash disbursements of $980000 and cash receipts

On January 1, Waterway Industries has a beginning cash balance of $196000. During the year, the company expects cash disbursements of $980000 and cash receipts of $780000. If Waterway requires an ending cash balance of $140000, Waterway Industries must borrow

$144000.

$396000.

$140000.

$136000.

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