The financial manager of New England Blissful Dairies, a distributor of milk, cream, and ice cream products, has finished the 12-month operating budget. For the month of June, the following projections were made: 

June 1 Cash Balance                        $90,000

Cash Receipts                                 $300,000

Cash Disbursement                       $350,000

Taking into account an amount of cash that the firm likes to maintain as a target (minimum cash balance) of $75,000, prepare the cash budget for June using the format below. Assume that, if necessary, the company will draw upon a preestablished line of credit with their bank to be able to maintain the target cash balance. 

Will the company need short-term financing?

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Beginning Cash Balance Cash Collections Cash Disbursements Net Cash Flow Preliminary Ending Cash Balance Less: Minimum Cash Balance Cash Surplus (Deficiency) Ending Cash Balance June