In June, Erie Plastics had an ending cash balance of $55,000. In July, the firm had total cash receipts of $70,000 and total cash disbursements of $10,000. The minimum cash balance required by the firm is $25,000. At the end of July, Erie Plastics hada. an excess cash balance of $90,000b. an excess cash balance of $0c. an excess cash balance of $115,000d. required financing of $25,000 e. none of the above
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