QS 22-23 Budgeted loan activity LO P2 Santos Co. is preparing a cash budget for February. The company has $16,000 cash at the beginning of February and anticipates $70,000 in cash receipts and $119,000 in cash disbursements during February. What amount, if any, must the company borrow during February to maintain a $5,000 cash balance? The company has no loans outstanding on February 1. (Negative cash balances, if any, should be indicated with minus sign.) Answer is complete but not entirely correct. SANTOS CO. Cash Budget For Month Ended February 28 Beginning cash balance $ Cash receipts Total cash available Cash payments Preliminary cash balance $ Additional loan from bank Ending cash balance $ 16,000 70,000 86,000 119,000 (19,000) 14,000 5,000