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George Services, Inc., has $8,500 cash on hand on March 1. The company requires a minimum cash balance of $7,000. March cash collections are $548,320.

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George Services, Inc., has $8,500 cash on hand on March 1. The company requires a minimum cash balance of $7,000. March cash collections are $548,320. Total cash payments for March are $577,300. Prepare a cash budget for March. How much cash, if any, will George need to borrow by the end of March? Complete the cash budget below. (Use parentheses or a minus sign for negative ending cash balances or deficiencies.) George Services, Inc. Combined Cash Budget For the Month Ended March 31 Beginning cash balance Plus: Cash collections Total cash available Less: Cash payments Ending cash balance before financing Minimum cash balance desired Cash excess (deficiency)

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