Cash Management : Hollis Corporation has the following budgeted schedule for expected cash receipts and cash disbursement. Hollis begins July with a cash balance of $20,000,$15,000 of short-term debt, and no short-term investments. Hollis uses the following cash management policy: - End-of-month cash should equal $20,000 plus the excess of expected disbursements over receipts for the next month. - If receipts are expected to exceed disbursements in the next month, the current month onding cash balanco should be $20,000. - Excess cash should be invested in short-term investments unless there is short-term debt, in which case excess cash should first be used to reduce the debt. - Cash deficiencies are met first by selling short-term investments and second by incurring short-term debt. Required: 1. Calculate the expected buying and selling of short-term investments and the incurrence and repayment of short-term debt at the and of July, August, and Soptember. 2. Discuss the general considerations that help accountants develop a cash management policy