Questions 88, 89, and 90 employ the following data set: The Illinois Central Corporation is preparing their Cash Budget for the forthcoming calendar year. The following data has been prepared for cash receipts and payments: Jarnuary February March Cash Receipts $1,061,200 Cash Payments $984,500 The corporation's cash balance January 1"is$290,000. Illinois Central Corporation's desires a minimum cash balance of $340,00 each month. What is the amount of excess cash or deficiency of cash (after considering th minimum cash balance required) for January? S1.182.400 $1.075,000 $1,210,000 $1,091,700 88. a $26,700 excess b. $136,700 deficiency c. $356,700 excess d. $60,000 excess e. $125,200 deficiency 89. What is the amount of excess cash or deficiency of cash (after consideringeth cash or minimum cash balance required) for February? $109,100 deficiency b. $10,900 excess c. $900 deficiency d. $109,100 excess e. $10,900 deficiency amount of excess cash or deficiency of cash (aher cons ering the What is the minimum cash balance required) for March? 90. $214,200 excess b. S15,800 excess d. $25,300 excess e. $30,500 deficiency $60,000 deficiency