7. Value: A Company is preparing a cash budget for June. The company has $83.750...
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7. Value: A Company is preparing a cash budget for June. The company has $83.750 cash at the beginning of June and anticipates $102,930 in cash receipts and $116.870 in cash disbursements during June. This company has an agreement with its bank to maintain a cash balance of at least $81.250 As of May 31, the company owes $ 30,000 to the bank To maintain the $81.250 required balance, during June the company must: Borrow $11.440 Repay $13.940 Borrow= $30.000 Repay $30,000 Repay $11,440
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