Costa Services, Inc., has $8,100 cash on hand on July 1. The company requires a minimum...

 

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Costa Services, Inc., has $8,100 cash on hand on July 1. The company requires a minimum cash balance of $7,400. July cash collections are $548,360. Total cash payments for July are $581,620. Prepare a cash budget for July. How much cash, if any, will Costa need to borrow by the end of July? Complete the cash budget below. (Use parentheses or a minus sign for negative ending cash balances or deficiencies.) Costa Services, Inc. Combined Cash Budget For the Month Ended July 31 Beginning cash balance Plus: Cash collections Total cash available. Less: Cash payments Ending cash balance before financing Minimum cash balance desired Cash excess (deficiency) Costa Services, Inc., has $8,100 cash on hand on July 1. The company requires a minimum cash balance of $7,400. July cash collections are $548,360. Total cash payments for July are $581,620. Prepare a cash budget for July. How much cash, if any, will Costa need to borrow by the end of July? Complete the cash budget below. (Use parentheses or a minus sign for negative ending cash balances or deficiencies.) Costa Services, Inc. Combined Cash Budget For the Month Ended July 31 Beginning cash balance Plus: Cash collections Total cash available. Less: Cash payments Ending cash balance before financing Minimum cash balance desired Cash excess (deficiency)

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