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Current Attempt in Progress Sheridan Company management wants to maintain a minimum monthly cash...

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Accounting

Current Attempt in Progress
Sheridan Company management wants to maintain a minimum monthly cash balance of $28,500. At the beginning of April, the cash balance is $28,500, expected cash receipts for April are $279,300, and cash disbursements are expected to be $290,700.
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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