George Services, Inc., has $8,600 cash on hand on August 1. The company requires a minimum cash balance of $7,200. August cash collections are $548,580. Total cash payments for August are $565,240. Prepare a cash budget for August. How much cash, if any, will George need to borrow by the end of August? Complete the cash budget below. (Use parentheses or a minus sign for negative ending cash balances or deficiencies.) George Services, Inc. Combined Cash Budget For the Month Ended August 31 Beginning cash balance Plus: Cash collections Total cash available Less: Cash payments Ending cash halance before financing

George Services, Inc., has $8,600 cash on hand on August 1. The company requires a minimum cash balance of $7,200. August cash collections are $548,580. Total cash payments for August are $565,240. Prepare a cash budget for August. How much cash, if any, will George need to borrow by the end of August? Complete the cash budget below. (Use parentheses or a minus sign for negative ending cash balances or deficiencies.) George Services, Inc. Combined Cash Budget For the Month Ended August 31 Beginning cash balance Plus: Cash collections Total cash available Less: Cash payments Ending cash halance before financing

Financial Management: Theory & Practice

16th Edition

ISBN:9781337909730

Author:Brigham

Publisher:Brigham

Chapter16: Supply Chains And Working Capital Management

Section: Chapter Questions

Problem 16MC: In an attempt to better understand RR’s cash position, Johnson developed a cash budget for the first...

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