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The capital budget for the month of July indicates a $280,000 purchase of trucks for cash. The ending June cash balance is expected to be
The capital budget for the month of July indicates a $280,000 purchase of trucks for cash. The ending June cash balance is expected to be $40,000. Cash receipts are $840,000, and cash payments are 5610,000 during July. The company wants to maintain a minimum cash balance of $20,000. What is the minimum cash loan that must be planned to be borrowed from the bank during July? A. $30,000 B. $0 C. $10,000 D. $50,000
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