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Southland Company is preparing a cash budget for August. The company has $18,400 cash at...

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Accounting

Southland Company is preparing a cash budget for August. The company has $18,400 cash at the beginning of August and anticipates $123,600 in cash receipts and $137,300 in cash payments 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:

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