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The following budgeted information has been provided by Aldo, Inc.: * Projected sales for September are $120,000. Cash receipts from sales totaled $136,000 during September

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The following budgeted information has been provided by Aldo, Inc.: * Projected sales for September are $120,000. Cash receipts from sales totaled $136,000 during September * Cash disbursements for purchases of materials are expected to be $68,000 during September. * Variable operating costs are budgeted at 25% of sales. * Out-of-pocket fixed operating costs are budgeted at $29,000 monthly. Depreciation expense of $7,000 will also be recorded each month. * The cash balance on September 1st was $10,000. Jared's goal is to maintain at least a $22,000 cash balance each month by the end of September. How much will Aldo have to borrow during September in order to maintain the $20,000 minimum cash balance? Multiple Choice O $1000 O O $3,000 O O

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