Rogers Services, Inc., has $8,700 cash on hand on August 1. The company requires a minimum cash balance of $7,400. August cash collections are $548,540. Total cash payments for August are $565,960. Prepare a cash budget for August. How much cash, if any, will Rogers need to borrow by the end of August?

Complete the cash budget below. (Use parentheses or a minus sign for negative ending cash balances or deficiencies.) Rogers Services, Inc. Combined Cash Budget For the Month Ended August 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 August, Rogers (1) (1) O has excess cash of O needs to borrow