Taylor Services, Inc., has $$8,300$ cash on hand on July $1.$ The company requires a minimum cash balance of $$7,400.$ July cash collections are $$548,450.$ Total cash payments for July are $$581,150.$ Prepare a eash budget for July. How much cash, if any, will Taylor 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.$)$

Taylor 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

Plus: New borrowings

Ending cash balance