What is the appropriate amount to borrow, Accounting Basics

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What is the appropriate amount to borrow

Haas Comp. opened a new store Oct. 1, 2015. Preparing the cash budget, the company has a shortage of (178,072). They have to borrow in increments of $1,000, and have a $13,000 cushion, with a 2% monthly interest rate. What is the appropriate amount to borrow? Is it 192,000?

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Accounting Basics: What is the appropriate amount to borrow

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Accounting Basics: What is the appropriate amount to borrow

Reference No:- TGS0672593

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Recent Questions Asked Accounting Basics

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What is the appropriate amount to borrow

Reference No:- TGS0672593

Recent Questions Asked Accounting Basics

Q : Calculate the net present value

Q : Completed and transferred to the blending department

Q : Explain interest earned that not been paid or received

Q : The company policy is to sell marketable securities

Q : What is the appropriate amount to borrow

Q : Average cost per kilometre

Q : What is the yearly effective interest rate of return

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