A company is preparing its their Cash Budget. The following data has been provided 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 March?