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QUESTION
Given the cash budget information provided below, determine the maximum amount of financing needed over the three month forecast period.
Given the cash budget information provided below, determine the maximum amount of financing needed over the three month forecast period. Assume a beginning balance of $500 and a minimum cash requirement (Target Balance) of $300.
Month July Aug Sept
Receipts 500 550 800
Disbursements 450 1,250 850
