A company is preparing completing their Cash Budget. The following data has been prepared for Cash Receipts and payments. 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 company's cash balance at January 1st is $290,000. This company desires a minimum cash balance of $340,000. What is the amount of excess cash or deficiency of
cash (after considering the minimum cash balance required) for March?
A) $214,200 excess
B) $15,800 excess
C) $60,000 deficiency
D) $25,300 excess
B
Business
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