Attempt in Progress The controller of Swifty Company wants to improve the company's control system by preparing a month-by-month cash budget. The following information is for the month ending July 31, 2022. June 30, 2022, cash balance Dividends to be declared on July 15" $48.000 12,960 Cash expenditures to be paid in July for operating expenses 44,064 Amortization expense in July 4,860 Cash collections to be received in July 97.200 Merchandise purchases to be paid in cash in July 60,696 Equipment to be purchased for cash in July 21,600 "Dividends are payable 30 days after declaration to shareholders of record on the declaration date. Swifty Company wants to keep a minimum cash balance of $27,000. (a) Prepare a cash budget for the month ended July 31, 2022, and indicate how much money, if any, Swifty Company will need to borrow to meet its minimum cash requirement. LILY COMPANY Direct Materials Budget > > January $ $