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Striker Company estimates its expected cash receipts for the period to be $80,000 and its expected cash disbursements to be $70,000. The beginning cash balance for the period was $5,000. The management wants to maintain a minimum cash balance of $40,000. Knowledge Check 01 How much cash will the company need to borrow

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Answer:

$25,000

Explanation:

Calculation for How much cash will the company need to borrow

Cash needed to borrow=$40,000 - (($80,000 - $70,000) + $5,000).

Cash needed to borrow=$40,000+$10,000-$5,000

Cash needed to borrow=$25,000

Therefore How much cash will the company need to borrow is $25,000

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