Your company needs a new copy machine quickly
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Practice Problems

Your company needs a new copy machine quickly

Solve the problems by applying the concepts in the text. Where can your firm find financing?

Your company needs a new copy machine quickly. The high-volume, multifeatured model you want costs $3,000, but your small business doesn’t have that much cash on hand right now and doesn’t want to borrow at this time.

Hint
Accounts & FinanceCash on hand refers to the total amount of cash that is accessible. This is regardless of whether it is in one's pocket or in their bank account. Any investment that can be converted into cash in less than three months is usually included when the calculation of cash on hand is being carried out....

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