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 Cash receipts Cash payments January $1,061,200 984,500 February $1,182,400 1.210,000 March $1,091,700 1,075,000 What is the amount of cash excess or deficiency (after considering the minima cash balance required) for February? a. excess of $109,100 o b. deficiency of $109,100 OC excess of $10,900 d. deficiency of 5900 QUESTION 19 5 points S After the sales budget is prepared, the production budget is normally prepared next True False