George Services, Inc., has $8,600 cash on hand on August 1. The company requires a minimum cash balance of $7,200. August cash collections are $548,580. Total cash payments for August are $565,240. Prepare a cash budget for August. How much cash, if any, will George need to borrow by the end of August? Complete the cash budget below. (Use parentheses or a minus sign for negative ending cash balances or deficiencies.) George Services, Inc. Combined Cash Budget For the Month Ended August 31 Beginning cash balance Plus: Cash collections Total cash available Less: Cash payments Ending cash halance before financing

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Master Budget

A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making. 

Sales Budget and Selling

A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.