DE23-11 Refer to Daily Exercise 23-10. Shadz's has $8,300 cash on hand on January 1. The company

Question:

DE23-11 Refer to Daily Exercise 23-10. Shadz's has $8,300 cash on hand on January 1. The company requires a minimum cash balance of $7,500. January cash collections are $531.705 (as you calculated in Daily Exercise 23-10). Total cash payments for January are $583.200. Prepare a cash budget for January. Will Shadz's need to borrow cash by the end of January?

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