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 January $1,061,200 984,500 February $1,182,400 1,210,000 March $1,091,700 1,075,000 Cash payments What is the amount of cash excess or deficiency (after considering the minimum cash balance required) for March? a. excess of $15,800 Ob. deficiency of $60,000 Oc. excess of $25,300 Od. excess of $214,200