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A company is preparing completing their Cash Budget. The following data has been prepared for cash receipts and payments.

January February March
Cash receipts $1,061,200 $1,182,400 $1,091,700
Cash payments 984,500 1,210,000 1,075,000

The company's cash balance at January 1st is $290,000. This company desires a minimum cash balance of $340,000.
What is the amount of excess cash or deficiency of cash (after considering the minimum cash balance required) for January?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9977151

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