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Mosbey Inc. is working on its cash budget for June. The budgeted beginning cash balance is $18,000. Budgeted cash receipts total $175,300 and budgeted cash

Mosbey Inc. is working on its cash budget for June. The budgeted beginning cash balance is $18,000. Budgeted cash receipts total $175,300 and budgeted cash disbursements total $204,000. The desired ending cash balance is $49,000, and the company borrows in increments of $500 only. The amount Mosbey Inc needs to borrow for June will be:

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