Prepare the cash budget for Company X for the month of June using the following information: Cash balance at the end of the year: $5,500 Budgeted cash receipts for June: $16,875 Budgeted cash payments for June are: $34,850 The company has a line of credit that allows them to borrow funds. Funds must be borrowed on the first day of the month and repaid on the last day of the month. Ignore interest for this question The company has a minimum desired cash balance of $5000 for each month.