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Western Company is preparing a cash budget for June. The company has $11,000 in cash...

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Accounting

Western Company is preparing a cash budget for June. The company has $11,000 in cash at the beginning of June and anticipates $31,000 in cash receipts and $36,500 in cash payments during June. Western Company has an agreement with its bank to maintain a minimum cash balance of $10,000. As of May 31, the company has no loans outstanding. To maintain the $10,000 required balance, during June the company must

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