Question: Rogers Services, Inc., has $ 8 , 4 0 0 cash on hand on August 1 . The company requires a minimum cash balance of

Rogers Services, Inc., has $8,400 cash on hand on August 1. The company requires a minimum cash balance of $7,600. August cash collections are $548,400. Total cash payments for August are $578,510. Prepare a cash budget fo August. How much cash, if any, will Rogers need to borrow by the end of August?
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 August 31
Beginning cash balance
Plus: Cash collections
Total cash available
Less: Cash payments
Rogers Services, Inc., has $8,400 cash on hand on August 1. The company requires a minimum cash balance of
Rogers Services, Inc.
Combined Cash Budget
For the Month Ended August 31
Beginning cash balance
Plu: Cash collections
Total cash available
Less: Cash payments
Ending cash balance before financing
Plus: New borrowings
Ending cash balance
Rogers Services, Inc., has $8,400 cash on hand on August 1.

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