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How much cash must cheyenne borrow

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Question - Cheyenne Corporation's management wants to maintain a minimum monthly cash balance of $8,800. At the beginning of September, the cash balance is $13,497, expected cash receipts for September are $106,920, and cash disbursements are expected to be $126,500.

Required - How much cash, if any, must Cheyenne borrow to maintain the desired minimum monthly balance? Determine your answer by using the basic form of the cash budget.

Reference no: EM133032876

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