Is this correct?

Bantam Industries has the following Cash Budget information for March: Cash receipts Beginning cash balance Cash payments Desired ending cash balance $311,000 15,000 340,000 35,000 If there is a cash shortage, the company borrows money from the bank (via a short term "Credit Line"). Any cash needs are borrowed at the beginning of the month in $1,000 increments, and interest is paid monthly at 1% on the first day of the following month. The company had no debt before March 1. How much cash, if any, will the company need to borrow in March to maintain an adequate cash balance (as required by mgmt)? Multiple Choice $40,000 $9,000 $49,000 The company should not need to borrow any cash in March