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Sparks Corporation has a cash balance of $7160 on April 1. The company must maintain a minimum cash balance of $6,500. During April, expected cash
Sparks Corporation has a cash balance of $7160 on April 1. The company must maintain a minimum cash balance of $6,500. During April, expected cash receipts are $51,000. Cash disbursements during the month are expected to total $56,520. Ignoring interest payments, during April the company will need to borrow: Multiple Choice $1,640 $6,500 $4,860 $5,520
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