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Zhang Industries is preparing a cash budget for June. The company has $35,000 cash at the beginning of June and anticipates $109,000 in cash receipts
Zhang Industries is preparing a cash budget for June. The company has $35,000 cash at the beginning of June and anticipates $109,000 in cash receipts and $136,290 in cash payments during June. The company has no loans outstanding on June 1. Compute the amount the company must borrow, if any, to maintain a $27,000 cash balance. Multiple Choice $34,710. $20,290. $27.290. $19,290. $11,290
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