Below are the forecasted receipts and cash payments from Charleston Company for the first four months of the year: January February March April Budgeted Cash $147,000 $270,000 $879,000 $602,000 Collections Budgeted Cash Payments: Operating $618,000 $879,000 $660,000 $952,000 Expenses Dividends $879,000 Equipment $956,000 Purchases Total Budgeted $618,000 $1,758,000 $1,616,000 $952,000 Cash Payments On January 1, Charleston Company had a cash balance of $888,000. Charleston Company implemented a new policy this year mandating a cash balance of at least $98,000 at the end of each month and using any surplus to pay down loans. How much money must Charleston Company plan to borrow in February? $737,000 $1,586,000 $1,169,000 $98,000 $0