Stern corporations management wants to maintain a minimum, Accounting Basics

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Stern corporations management wants to maintain a minimum

Question: Stern Corporation's management wants to maintain a minimum monthly cash balance of $8,000. At the beginning of September, the cash balance is $12,270, expected cash receipts for September are $97,200, and cash disbursements are expected to be $115,000. How much cash, if any, must Stern borrow to maintain the desired minimum monthly balance? Determine your answer by using the basic form of the cash budget.

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Accounting Basics: Stern corporations management wants to maintain a minimum

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