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Question
Zhang Industries is preparing a cash budget for June. The company has $25,000 cash at the beginning of June and anticipates $95,000 in cash receipts and $111,290 in cash disbursements during June. The company has no loans outstanding on June 1. Compute the amount the company must borrow, if any, to maintain a $20,000 cash balance.A.$28,710.
B.$12,290.
C.$16,290.
D.$11,290
E.$6,290.
Answer
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