SaveCo Services, Inc, has $8,600 cash on hand on May 1 . The company requires...
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SaveCo Services, Inc, has $8,600 cash on hand on May 1 . The company requires a minimum cash balance of $7,500. May cash collections are $548,480. Total cash payments for May are $563,420. Prepare a cash budget for May. How much cash, if any, will SaveCo need to borrow by the end of May? Complete the cash budget below. (Use parentheses or a minus sign for negative ending cash balances or deficiencies.) (1) has excess cash of
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