Webster Corporation is preparing its cash budget for April. The March 31 cash balance is $38,200. Cash receipts are expected to
be $650,000 and cash payments for purchases are expected to be $613,000. Other cash expenses expected are $27,900 selling and $34,400 general and administrative. The company desires a minimum cash balance at the end of each month of $39,000. If necessary, the company borrows enough cash to meet the minimum using a short-term note. The amount Webster must borrow during April is:
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