Sydney Ltd has provided you with the following budget information for June: Cash collections...
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Accounting
Sydney Ltd has provided you with the following budget information for June:
Cash collections
$876,000
June 1 cash balance
$23,000
Cash disbursements
$978,600
Sydney Ltd has a policy of maintaining a minimum cash balance of $20,000 and borrows only in $1,000 increments. How much money will Sydney Ltd borrow in June?
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