Our company prepared the first quarter 2018 cash budget. Our sales budget is below: Jan Feb Mar Budgeted sales $40,000 $50,000 $70,000 Sales are made 20% for cash and 80% on credit. Credit sales are collected as follows: The month of sale 60% First month following sale 30% Second month following sale 8% Uncollectible (never collected) 2% Inventory purchases paid for in March $28,000 Cash dividends paid in March $4,000 A. 3,840 $ B. 8,840 $ C. 11,840 $ D. 15,840 $ E. None of the above We require a minimum cash balance of $5,000 at the start of each month. The beginning cash balance in March is expected to be $6,000. The following additional information is available for March: Our budgeted Selling and Admin expenses for the year are budgeted at $564,000. These include $84,000 depreciation of office computers. We pay our Selling and Admin cash expenses evenly through the year (1/12 per month). How much cash (if any) will we need to borrow in March to meet the minimum cash balance requirements? Ignore any interest payments