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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
Posted: Sat May 07, 2022 8:37 pm
by answerhappygod
- A Company Is Preparing Its Cash Budget Its Cash Balance On January 1 Is 290 000 And It Has A Minimum Cash Requirement 1 (20.17 KiB) Viewed 64 times
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 the deficiency or excess cash (after considering the minimum cash balance required) for January is a(n) Oa, excess of $60,000 Ob. excess of S26,700 Oc. excess of 5356,700 Od. deficiency of S136,700