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Category > Accounting Posted 21 Aug 2017 My Price 6.00

Cash Budget.

A company is preparing their Cash Budget. The following data has been provided 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 or deficiency of cash (after considering the minimum cash balance required) for January?

Select one:

(a) $26,700 excess

(b) $136,000 deficiency

(c) $356,700 excess

(d) $60,000 excess

Answers

Maurice Tutor
(5)
Status NEW Posted 21 Aug 2017 05:08 PM My Price 6.00

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