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Southland Company is preparing a cash budget for August. The company has $17,000 cash at...

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Accounting

Southland Company is preparing a cash budget for August. The company has $17,000 cash at the beginning of August and anticipates $120,800 in cash receipts and $134,500 in cash disbursements during August. Southland Company wants to maintain a minimum cash balance of $10,000. To maintain the minimum cash balance of $10,000, the company must borrow: $0. $10,000. $6,700. $7,000. $27,700.

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