Young services, Inc., has $8,400 cash on hand on July 1. The company requires a minimum cash balance of $7,100. July cash collections are $548,580. Total cash payments for July are $570,760. Prepare a cash budget fo July. How much cash, if any, will Young need to borrow by the end of July?

Young 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:

Minimum cash balance desired:

Cash excess (deficiency):