Firm ABC has a beginning cash balance of 340,446 and generated a net cash flow...
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Firm ABC has a beginning cash balance of 340,446 and generated a net cash flow of 61,551 without line of credit financing for 2022. ABC generated 2,323,902 of sales in 2022 and typically must retain 3% in cash for their operations. If their line of credit balance was 559,917 at the end of 2021, what is their line of credit balance at the end of 2022?
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