Question: Rogers Services, Inc., has $ 8 , 1 0 0 cash on hand on December 1 . The company requires a minimum cash balance of

Rogers Services, Inc., has $8,100 cash on hand on December 1.

Rogers Services, Inc., has $8,100 cash on hand on December 1. The company requires a minimum cash balance of $7,100. December cash collections are $548,340. Total cash payments for December are $582,870. Prepare a cash budget for December. How much cash, if any, will Rogers need to borrow by the end of December?
Complete the cash budget below. (Use parentheses or a minus sign for negative ending cash balances or deficiencies.)
Rogers Services, Inc.
Combined Cash Budget
For the Month Ended December 31
Beginning cash balance
Plus: Cash collections
Total cash available
Less: Cash payments
Ending cash balance before financing
Plus: New borrowings
Ending cash balance
The company requires a minimum cash balance of $7,100. December cash collections

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