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Attaining desired ending cash balance

Problem:

Gizmo, Inc. is working on its cash budget for November. The budgeted beginning cash balance is $24,000.

Budgeted cash receipts total $177,000 and budgeted cash disbursements total $167,000. The desired ending cash balance is $50,000.

To attain its desired ending cash balance for November, the company needs to borrow:

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Finance Basics: Attaining desired ending cash balance

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