Josie's Craft Shack has a beginning cash balance for the quarter of $1,126.The store has a policy of maintaining a minimum cash balance of $1,000 and is willing to borrow funds as needed to maintain that balance.Currently,the firm has a loan balance of $480.How much will the store borrow or repay if the net cash flow for the quarter is -$280?
A) $0
B) $28
C) $126
D) $154
E) $280
Correct Answer:
Verified
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