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Question - 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
Required - What is the amount of cash excess or deficiency (after considering the minimum cash balance required) for March?
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