Howard Services, Inc., has $8,400 cash on hand on December 1. The company requires a minimum cash balance of $7,600. December cash collections are $548,570. Total cash payments for December are $581,520. Prepare a cash budget for December. How much cash, if any, will Howard 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.) Howard Services, Inc. Combined Cash Budget For the Month Ended December 31 Beginning cash balance n Plus: Cash collections Total cash available Less: Cash payments Ending cash balance before financing Minimum cash balance desired Cash excess (deficiency)

Howard Services, Inc., has $8,400 cash on hand on December 1. The company requires a minimum cash balance of $7,600. December cash collections are $548,570. Total cash payments for December are $581,520. Prepare a cash budget for December. How much cash, if any, will Howard 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.) Howard Services, Inc. Combined Cash Budget For the Month Ended December 31 Beginning cash balance n Plus: Cash collections Total cash available Less: Cash payments Ending cash balance before financing Minimum cash balance desired Cash excess (deficiency)

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter4: Financial Planning And Forecasting

Section: Chapter Questions

Problem 4P

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