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aton WINTraveRSION BACK NEXT URCES Exercise 5-26 Will Benjamin has been working on Sunland Paints cash budget for the coming year. Based on his projections for March, the beginning cash balance will be $50, 194; cash collections will be $700,000; and cash disbursements will be 5710,790, Sunland Paints desres to maintain a 550,000 minimum cash balance. The company has a 10% open line of credit with ts bank, which provides short ter borrowings in $500 increments. All borrowings are made at the beginning of the month and all repayments are made at the end of the month in 550 increments when partial payments are made against the line of credit, aconied interest applicable to the full amount due through that date is paid along with the partia principal repayment. (a) How much will Sunland Paints need to borrow from the bank at the beginning of March? Sunland Paints should borrow (b) Sunland anticipates having a positive $7,000 net cash flow from April activities: How much of the line of credit from March can be repaid? How much interest will be repaid in April (Round interest repaid answer to the nearest whole dollar amount 5275 Study Principal to be repaid Interest to be repaid Click if you would like to show Work for this question: Open Show Work LINK TO TEXT By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor Question Attempts: 0 of 3 used