Young Services, Inc has $8300 cash on hand on August 1 for August How mach cash,

Question

Young Services, Inc has $8300 cash on hand on August 1 for August How mach cash, i any, will Young need to bormnow by the end of August? Complote the cash budget below (Use parentheses or a minus sign for negative ending cash balances or deficiencies Young Services, Inc. Combined Cash Budget For the Month Ended August 3 Beginning cash balance Plus Cash collections Total cash available Less Cash payments Ending cash balance before fnancing Meimum cash balance desired Cash excess (deficiencyi Enter any number in the edt elds and then cick Check Answer Ofype here to

Explanation / Answer

Younf Services Inc.

Combined Cash Budget

For the month ended August 31

Beginning Cash Balance $ 8,300 Plus: Cash Collections 548,340 Total Cash Available $ 556,640 Less: Cash Payments 565,140 Ending Cash Balance before Financing $ ( 8,500) Minimum Cash Balance Desired 7,600 Cash Excess ( Deficiency) $ ( 16,100)

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