Edward Lewis has been working on Bonita Paints' cash budget for the coming year. Based on his projections for March, the beginning cash balance will be $41.700, cash collections will be $560,000, and cash disbursements will be $594.000. Bonita Paints desires to maintain a $39,000 minimum cash balance. The company has a 12% open line of credit with its bank, which provides short-term 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 $500 increments) Accrued interest is paid at the time of repayment. (a) x Your answer is incorrect How much will Bonita Paints need to borrow from the bank at the beginning of March? Bonita Paints should borrow $ 31:00