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The following information was taken from Young Companys cash budget for the month of July: Beginning cash balance $480,000 Cash receipts 304,000 Cash disbursements 544,000
The following information was taken from Young Companys cash budget for the month of July:
Beginning cash balance $480,000
Cash receipts 304,000
Cash disbursements 544,000
If the company has a policy of maintaining a minimum end of the month cash balance of $350,000, the amount the company would have to borrow is: (Answer: $110,000)
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