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Zhang Industries is preparing a cash budget for June. The company has $27,000 cash at the beginning of June and anticipates $93,000 in cash
Zhang Industries is preparing a cash budget for June. The company has $27,000 cash at the beginning of June and anticipates $93,000 in cash receipts and $116,290 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 $21,000 cash balance.
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