The ending November cash balance is budgeted to be $40,000. The company wants to maintain a minimum cash balance of $20,000 at all times. During December cash receipts are $840,000, and cash disbursements are $610,000. What is the minimum loan that must be borrowed from the bank to purchase equipment for $280,000?

Select one:

$30,000

$10,000

$50,000

$0