Rogers Services, Inc., has $8,000 cash on hand on January 1. The company requires a minimum cash balance of $7,300. January cash collections are $548,380. Total cash payments for January are $565,830. Prepare a cashbudget for January. How much cash, if any, will Rogers need to borrow by the end of January?Complete the cash budget below. (Use parentheses or a minus sign for negative ending cash balances or deficiencies.)Rogers Services, Inc.Combined Cash BudgetFor the Month Ended January 31Beginning cash balancePlus: Cash collectionsTotal cash availableLess: Cash paymentsEnding cash balance before financingMinimum cash balance desiredCash excess (deficiency)

A cash budget is prepared at the beginning of the period to minimize the cash expenses by the…

Rogers Services, Inc., has $8,000 cash on hand on January 1. The company requires a minimum cash balance of $7,300. January cash collections are $548,380. Total cash payments for January are $565,830. Prepare a ca budget for January. How much cash, if any, will Rogers need to borrow by the end of January?

Rogers Services, Inc., has $8,000 cash on hand on January 1. The company requires a minimum cash balance of $7,300. January cash collections are $548,380. Total cash payments for January are $565,830. Prepare a ca budget for January. How much cash, if any, will Rogers need to borrow by the end of January?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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