S9-13

S9-13 (similar to) Question Help O Young Services, Inc., has $8,800 cash on hand on August 1. The company requires a minimum cash balance of $7,000. August cash collections are $548,530. Total cash payments for August are $579,140. Prepare a cash budget for August. How much cash, if any, will Young 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.) Young Services, Inc. Combined Cash Budget For the Month Ended August 31 Beginning cash balance Plus: Cash collections Total cash available Less: Cash payments MINUTE Ending cash balance before financing Minimum cash balance desired Cash excess (deficiency)