Freet Inc. is preparing its cash budget for November. The budgeted beginning cash balance is $18,000. Budgeted cash receipts total $109,000 and budgeted cash disbursements total $94,000. The desired ending cash balance is $55,000. The company can borrow up to $60,000 at any time from a local bank, with interest not due until the following month.

Required:

Prepare the company's cash budget for November in good form. Make sure to indicate what borrowing, if any, would be needed to attain the desired ending cash balance.