In April , a firm had an ending cash balance of $37,000. In May, the...
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In April , a firm had an ending cash balance of $37,000. In May, the firm had total cash receipts of $89,000 and total cash disbursements of $28,000. The minimum cash balance required by the firm is $15,000. Based on the given information, determine the amount of excess cash or required financing at the end of May
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