Assignment #2 Saved June 30, 2021, cash balance $110, 000 Dividends were declared on June 15- 34 , 000 Cash expenditures to be paid in July for operating expenses 78, 600 Depreciation expense 11, 000 Cash collections to be received 189, 000 Merchandise purchases to be paid in cash 117, 400 10 Equipment to be purchased for cash 44, 000 points Arrowroot Company wishes to maintain a minimum cash balance of 50, 000 Skipped "Dividends are payable to shareholders of record on declaration date, 30 days after declaration. Required: 1. Prepare a cash budget for the month ended July 31, 2021, indicating how much, if anything, Arrowroot will need to borrow to meet minimum cash requirement. (Leave no cells blank - be certain to enter "O" wherever required.) ARROWROOT COMPANY Cash Budget for July 31, 2021 Total cash available before current financing Less disbursements: Total disbursements Excess (deficiency) of cash available over disbursements S Financing: Borrowings Repayments Interest Total financing 2. Supposing the cash management policy at Arrowroot permits borrowing up to $50,000 for the purpose of financial slack, how much will be borrowed? Borrowings 3. This part of the question is not part of your Connect assignment! Pray 1 01 7 MacBook A