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: March Cash receipts Cash payments January $1,094,500 984,500 February $1,182,400 1,351,500 $1,091,700 1,075,000 What is the amount of the deficiency or excess cash (after considering the minimum cash balance required) for January? excess of $356,700 excess of $26,700 excess of $60,000 deficiency of $136,700