Expected monthly collection and disbursement information for the month of April for Rayman Co. are shown below:

Cash collections from Sales and Accounts Receivable	$ 45,000
Cash disbursements for Accounts Payable	37,000
Cash Disbursement for Payroll and Other Expenses	70,000
Interest Earned on the Savings Account	2,000
Dividends Paid	4,000

The ending cash balance as of March 31 is budgeted to be 412,000. If a minimum cash balance of 410,000 is required, Raymar will:

a.Have excess cash of $8,000

b.Need to borrow $74,000

c.Need to borrow $62,000

d.Have excess cash of $45,000