Multiple Choice
During September the capital expenditure budget indicates a $420000 purchase of equipment. The ending September cash balance from operations is budgeted to be $60000. The company wants to maintain a minimum cash balance of $30000. What is the minimum cash loan that must be planned to be borrowed from the bank during September?
A) $330000
B) $360000
C) $450000
D) $390000
Correct Answer:
Verified
Correct Answer:
Verified
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