Taylor Services, Inc., has $8,000 cash on hand on May 1. The company requires a minimum cash balance of $7,200. May cash collections are $548,390. Total cash payments for May are $566,090. Prepare a cash budget for May. How much cash, if any, will Taylor need to borrow by the end of May? 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 May 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)