20A 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 What is the amount of cash excess or deficiency (after considering the minimum cash balance required) for February?a.deficiency of $900b.deficiency of $109,100c.excess of $109,100d.excess of $10,900