Laurey Inc. is working on its cash budget for May. The budgeted beginning cash balance is $47,000. Budgeted cash receipts total $131,000 and budgeted cash disbursements total $126,000. The desired ending cash balance is $64,000. To attain its desired ending cash balance for May, the company needs to borrow:

$116,000

$0

$64,000

$12,000