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Sparks Corporation has a cash balance of $5,000 on April 1. The company must maintain...

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Accounting

Sparks Corporation has a cash balance of $5,000 on April 1. The company must maintain a minimum cash balance of $4,000. During April, expected cash receipts are $55,600. Cash disbursements during the month are expected to total $59,680. Ignoring interest payments, during April the company will need to borrow:

a. $4,000

b. $4,080

c. $3,080

d. $920

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