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Coles Services, Inc., has $8,000 cash on hand on July 1 . The company requires a minimum cash balance of $7,200. July cash collections are

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Coles Services, Inc., has $8,000 cash on hand on July 1 . The company requires a minimum cash balance of $7,200. July cash collections are $548,560. Total cash payments for July are $574,830. Prepare a cash budget for July. How much cash, if any, will Coles need to borrow by the end of July? Complete the cash budget below. (Use parentheses or a minus sign for negative ending cash balances or deficiencies.)

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