Howard Services, Inc., has S8,300 cash on hand on July 1. The company requires a minimum cash balance of $7,000. July cash collections are $548,550. Total cash payments for July are $563,550. Prepare a cash budget for July. How much cash, if any, will Howard 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.) Howard Services, Inc. Combined Cash Budget For the Month Ended July 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) By the end of July, Howard has excess cash of needs to borrow