Question 27 of 50 < > View Policies -18 E Current Attempt in Progress The controller of Marigold Company wants to improve the company's control system by preparing a month-by-month cash budget. The following information is for the month ending July 31, 2022. June 30, 2022, cash balance $37,800 Dividends to be declared on July 15 10,080 Cash expenditures to be paid in July for operating expenses 34,272 Amortization expense in July 3,780 Cash collections to be received in July 75,600 Merchandise purchases to be paid in cash in July 47,208 Equipment to be purchased for cash in July 16,800 "Dividends are payable 30 days after declaration to shareholders of record on the declaration date. Marigold Company wants to keep a minimum cash balance of $21,000. (a) Prepare a cash budget for the month ended July 31, 2022, and indicate how much money, if any, Marigold Company will need to borrow to meet its minimum cash requirement.