IP 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 sininun cash balance of $94,000 26,000 76,600 9,400 130,000 113,400 41,600 34,000 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 "o" wherever required.) ARROWROOT COMPANY Cash Budget for July 31, 2021 Total cash available before current financing Less disbursements 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 "0" wherever required.) ARROWROOT COMPANY Cash Budget for July 31, 2021 Total cash available before current financing Less disbursements Total disbursements Excess (deficiency) of cash available over disbursements Financing Borrowings Repayments Interest Total financing