Business, 22.03.2021 23:20 dessyrob05

Jordan borrows funds, in increments of $1,000, and repays them on the last day of the month. Repayments may be made in any amount available. The company also pays its vendors on the last day of the month. It pays interest of 1 percent per month in cash on the last day of the month. To be prudent, the company desires to maintain a $20,000 cash cushion. Prepare a cash budget. (Any repayments/shortage which should be indicated with a minus sign.)

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Jordan borrows funds, in increments of $1,000, and repays them on the last day of the month. Repayme...

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