Help 8 The controller of Arrowroot Company wishes to improve the company's control system by preparing a monthly cash budget. The following information relates to the month ending July 31, 2021: June 30, 2021, cash balance Dividends to be paid in cash in July Cash expenditures to be paid in July for operating expenses Depreciation expense Cash collections to be received Merchandise purchases to be paid in cash Equipment to be purchased for cash Arrowroot Company wishes to maintain a minimum cash balance of $ 92,000 25,000 74,100 9,200 179,000 112,900 41,300 32,000 27:32 Required: 1. Prepare a cash budget for the month ended July 31 2021 indicating how much if anything. Arrowroot will need to borrow to meet its minimum cash requirement. Leave no cells blank.be certain to enter no whatever required) ARROWROOF COMPANY Cash Budget for July 1.2021 Total cash wal bene current financing Les disbursements Total disbursement Excess of cash available our distants Francing Bam 2. Supposing the cash management policy at Arrowroot permits borrowing up to $32,000 for the purpose of financial slack, how much will be borrowed? Borrowings 3. This part of the question is not part of your Connect assignment