Current Attempt in Progress The controller of Trenshaw 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, 2020. June 30, 2020, cash balance $40,300 Dividends to be declared on July 15* 13,300 Cash expenditures to be paid in July for operating expenses 37,500 Amortization expense in July 4,500 Cash collections to be received in July 85,900 Merchandise purchases to be paid in cash in July 55,200 Equipment to be purchased for cash in July 21,000 *Dividends are payable 30 days after declaration to shareholders of record on the declaration date. Trenshaw Company wants to keep a minimum cash balance of $25,600. (a) Prepare a cash budget for the month ended July 31, 2020, and indicate how much money, if any, Trenshaw Company will need to borrow to meet its minimum cash requirement. Beginning Cash Balance Add Cash Collections Total Cash Available Less Cash Collections Operating Expenses Merchandise Purchases Equipment Purchase Total Cash Available Ending Cash Balance Add Borrowings Ending Cash Balance > TRENSHAW COMPANY Cash Budget $ 40300 $