Apple Inc is preparing its cash budget for March. The budgeted beginning cash balance is $27,000. Budget cash receipts total $106,000 and budgeted cash disbursements total $93,000 and the desired ending cash balance is $65,000. The company can borrow up to 70,000 anytime from a local bank, with interest not due until the following month.

Set up the company's cash budget for March in good form. Make sure to indicate what borrowing if any would be needed to attain the desired ending cash balance.