Question: Grippers manufacturing has 8 300 cash on hand on January 1
Grippers manufacturing has $8,300 cash on hand on January 1. The company requires a minimum cash balance of $7,500. January cash collections are $548,330. Total cash payments for January are $583,200. Prepare a cash budget for January. How much cash, if any, will Grippers need to borrow by the end of January?
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