A company is preparing its their Cash Budget. The following data has been provided for cash receipts and payments. January February March Cash Receipts $1,061,200 $1,182,400 $1,091,700 Cash Payments $984,500 $1,210,000 $1,075,000 The company's 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 March? O $214,200 excess $15,800 excess O $60,000 deficiency $25,300 excess