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Sydney Ltd has provided you with the following budget information for June: Cash collections...

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Accounting

Sydney Ltd has provided you with the following budget information for June:

Cash collections

$876,000

June 1 cash balance

$23,000

Cash disbursements

$978,600

Sydney Ltd has a policy of maintaining a minimum cash balance of $20,000 and borrows only in $1,000 increments. How much money will Sydney Ltd borrow in June?

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