George Services, Inc., has $ 8,200 cash on hand on October 1. The company requires a minimum

Question:

George Services, Inc., has $ 8,200 cash on hand on October 1. The company requires a minimum cash balance of $ 7,600. October cash collections are $ 548,410. Total cash payments for October are $ 573,870. Prepare a for October. How much cash, if any, will George need to borrow by the end of October?

Cash Budget
A cash budget is an estimation of the cash flows for a business over a specific period of time. These cash inflows and outflows include revenues collected, expenses paid, and loans receipts and payment. Its primary purpose is to provide the...