January 31, 20XX, Jersey Inc. has $15,000 as a current balance in the cash account....
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January 31, 20XX, Jersey Inc. has $15,000 as a current balance in the cash account. Jersey shows cash receipts for January of $63,000 and cash payments for January of $50,000. If the bank requires Jersey Inc. to maintain an ending cash balance of $35,000, how much would the company need to borrow?
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