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Young Services, Inc., has $8,400 cash on hand on August 1. The company requires a minimum cash balance of $7,100. August cash collections are $548,390.

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Young Services, Inc., has $8,400 cash on hand on August 1. The company requires a minimum cash balance of $7,100. August cash collections are $548,390. Total cash payments for August are $578,200. 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 TUTTIVO Ending cash balance before financing Minimum cash balance desired Cash excess (deficiency)

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