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The following information was taken from Mitchell Company cash budget for the month of July: Beginning cash balance $125,000 Cash receipts 120,000 Cash disbursements 170,000

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The following information was taken from Mitchell Company cash budget for the month of July: Beginning cash balance $125,000 Cash receipts 120,000 Cash disbursements 170,000 If the company has a policy of maintaining a cash balance of $125,000 at the end of the month, what amount would the company need to borrow? SHOW TOUR WORK FOR PARTIAL CREDIT

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