During December, the capital budget indicates a $280,000 purchase of equipment. The ending December cash balance is

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During December, the capital budget indicates a $280,000 purchase of equipment. The ending December cash balance is budgeted to be $40,000. The company wants to maintain a minimum cash balance of $20,000. What is the minimum cash loan that must be planned to be borrowed from the Bank during December?
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Managerial Accounting

ISBN: 978-0176223311

1st Canadian Edition

Authors: Karen Wilken Braun, Wendy Tietz, Walter Harrison, Rhonda Pyp

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