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Costa Services, Inc., has $8,700 cash on hand on December 1 The company requires a minimum cash balance of 57.500. December cash collections are $548,440

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Costa Services, Inc., has $8,700 cash on hand on December 1 The company requires a minimum cash balance of 57.500. December cash collections are $548,440 Total cash payments for December are $580 110 Prepare a cash budget for December. How much cash, if any, will Costa need to borrow by the end of December? Complete the cash budget below (Use parentheses or a minus sign for negative ending cash balances or deficiencies) Costa Services, Inc. Combined Cash Budget For the Month Ended December 31 Beginning cash balance Plus. Cash collections Total cash available Loss Cash payments Ending cash balance before financing Minimum cash balance desired Cash excess (deficiency)

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