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Zhang Industries is preparing a cash budget for June. The company has $33,000 cash at the beginning of June and anticipates $105,000 in cash
Zhang Industries is preparing a cash budget for June. The company has $33,000 cash at the beginning of June and anticipates $105,000 in cash receipts and $131,290 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 $23,000 cash balance. Multiple Choice $6,290. $16,290. $17,290. $29,710. $26,290.
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