10 acct questions 4

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Crane Company management wants to maintain a minimum monthly cash balance of $20,000. At the beginning of April, the cash balance is $20,000, expected cash receipts for April are $196,000, and cash disbursements are expected to be $204,000.

How much cash, if any, must be borrowed to maintain the desired minimum monthly balance?

Amount to be borrowed to maintain the desired minimum monthly balance $

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