Question
A company is preparing completing their Cash Budget. The following data has been prepared for cash receipts and payments. January February March Cash receipts $1,061,200
A company is preparing completing their Cash Budget. The following data has been prepared for cash receipts and payments.
| January | February | March | |
| Cash receipts | $1,061,200 | $1,182,400 | $1,091,700 |
| Cash payments | 954,500 | 1,210,000 | 1,075,000 |
The companys cash balance at January 1st is $290,000. This company desires a minimum cash balance of $340,000. What is the amount of excess cash or deficiency of cash (after considering the minimum cash balance required) for February?
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Audit And Accounting Guide State And Local Governments
Authors: AICPA
1st Edition
1945498587, 978-1945498589
