answer soon please :)

48000

45000

15000

or 63000

Below are the forecasted cash receipts and cash payments for Alec Company for the first four months of the year. January February March Budgeted Cash $120.000 $60,000 Collections April $70,000 $130,000 Budgeted Cash Payments: Operating Expenses $140.000 $53,000 $73,000 $100,000 . Dividends O 0 20,000 Equipment Purchase O 0 40.000 Total Budgeted Cash Payments $140,000 $53,000 $133,000 $100,000 On January 1, Alec Company had a cash balance of $2,000. Beginning this year, Alec has decided to have a policy of maintaining a cash balance of at least $15,000 at the end of each month. Alec plans to pay back loans as soon as possible. So, if Alec has surplus cash in any month, that cash will be used to repay any outstanding loans. Also, assume that there is no interest on Alec's loans and that Alec had no loans outstanding at the beginning of the year. How much must Alec Company plan to borrow in March