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What is the amount of cash excess or deficiency

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Reference no: EM133011807

A company is preparing its cash budget. Its cash balance on January 1 is $290,000, and it has a minimum cash requirement of $340,000. The following data has been provided:

                                   January                    February                 March
Cash receipts                 $1,061,200             $1,182,400            $1,091,700
Cash payments                984,500                    1,210,000              1,075,000

Problem 1: What is the amount of cash excess or deficiency (after considering the minimum cash balance required) for March?

Reference no: EM133011807

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