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Coles Services, Inc., has $8,200 cash on hand on December 1. The company requires a minimum cash balance of $7,200. December cash collections are $548,420. Total cash payments for December are $580,820. Prepare a cash budget for December. How much cash, if any. will Coles 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.) Coles Services, Inc. Combined Cash Budget For the Month Ended December 31 Beginning cash balance Plus: Cash collections Total cash available Less: Cash payments Ending cash balance before financing Minimum cash balance desired Cash excess (deficiency) You recently began a job as an accounting intern at Ralph Adventures. Your first task was to help prepare the cash budget for February and March. Unfortunately, the computer with the budget file crashed, and you did not have a backup or even a hard copy. You ran a program to salvage bits of data from the budget file. After entering the following data in the budget, you may have just enough information to reconstruct the budget (Click the icon to view information on borrowing cash.) Requirements Complete the following cash budget. (For amounts with a $0 balance, make sure to enter * * in the appropriate input field. Enter cash deficiencies with a minus sign or parentheses. Enter the net total effects of financing with a minus sign when the amount is a net outfiow. Round interest expense to the nearest whole dollar.) Ralph Adventures Combined Cash Budget February and March February $ 16,900 0 107,100 47,600 97,800 Beginning cash balance Plus: Cash collections Plus: Cash from sale of plant assets Total cash available Loss Cash payments (purchase inventory) Lose: Cosh payments (operating expenses) Total cash payments (1) Ending cash balance before financing Minimum cash balance desired Cash excess (deficiency) Financing: Plus: Now borrowings Loss: Debt repayments Less: Interest payments (2) Total effects of financing Ending cash balance (1) + (2) 23,000 February 16,900 mg cash balance esh collections $ ash 0 ash i More Info Case Case cash Ralph Adventures eliminates any cash deficiency by borrowing the exact amount needed from State Street Bank, where the current interest rate is 8%. Ralph Adventures pays interest on its outstanding debt at the end of each month. The company also repays all borrowed amounts at the end of the month as cash becomes available. ading mum excel Print Done moing Plus: New borrowings Less: Debt repayments s ng * Incomplete budget A S at . ma March $? OW 79,700 2,000 0 ay $? say 41,000 nar ? ed Ralph Adventures Cash Budget February and March February Beginning cash balance $ 16,900 Plus: Cash collections ? Plus: Cash from sale of plant assets $ 107,100 Total cash available Less: Cash payments (purchase inventory) $?$ Less: Cash payments (operating expenses) 47,600 Total cash payments $ 97,800 (1) Ending cash balance before financing $?$ Minimum cash balance desired 23,000 $? Cash excess (deficiency) Financing Plus: New borrowings $? Less: Debt repayments Less: Interest payments (2) Total effects of financing $? $? Ending cash balance (1) + (2) $? 26,100 23,000 $? $ in th $? ? ? Ans $? $? Print Done

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