Grippers manufacturing has $8,300 cash on hand on January 1. The company requires a minimum cash balance

Question:

Grippers manufacturing has $8,300 cash on hand on January 1. The company requires a minimum cash balance of $7,500. January cash collections are $548,330. Total cash payments for January are $583,200. Prepare a for January. How much cash, if any, will Grippers need to borrow by the end of January?
Cash Budget
A cash budget is an estimation of the cash flows for a business over a specific period of time. These cash inflows and outflows include revenues collected, expenses paid, and loans receipts and payment. Its primary purpose is to provide the...