A company is preparing its cash budget. Its cash balance on January 1 is $290,000, and it has a minimum cash requirement of $340,000. The following data have been provided: January February March Cash receipts $1,061,200 $1,182,400 $1,091,700 Cash payments 984,500 1,210,000 1,075,000 The amount of cash excess or deficiency (after considering the minimum cash balance required) for March is a(n) a.deficiency of $60,000 b.excess of $214,200 c.excess of $25,300 d.excess of $15,800

A company is preparing its cash budget. Its cash balance on January 1 is $290,000, and it has a minimum cash requirement of $340,000. The following data have been provided: January February March Cash...

A company is preparing its cash budget. Its cash balance on January 1 is $290,000, and it has a minimum cash requirement of $340,000. The following data have been provided:

	January	February	March
Cash receipts	$1,061,200	$1,182,400	$1,091,700
Cash payments	984,500	1,210,000	1,075,000

The amount of cash excess or deficiency (after considering the minimum cash balance required) for March is a(n)

a.deficiency of $60,000

b.excess of $214,200

c.excess of $25,300

d.excess of $15,800

Jun 05, 2022

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A company is preparing its cash budget. Its cash balance on January 1 is $290,000, and it has a minimum cash requirement of $340,000. The following data have been provided: January February March Cash...

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