The controller of Arrowroot Company wishes to improve the company$$s control system by preparing a monthly cash budget. The following information relates to the month ending July $31,2021$:

June $30,2021,$ cash balance $ $106,000$

Dividends were declared on June $15*32,000$

Cash expenditures to be paid in July for operating expenses $77,600$

Depreciation expense $10,600$

Cash collections to be received $186,000$

Merchandise purchases to be paid in cash $116,400$

Equipment to be purchased for cash $43,400$

Arrowroot Company wishes to maintain a minimum cash balance of $46,000$

$*$Dividends are payable to shareholders of record on declaration date, $30$ days after declaration.

Required:

$1.$ Prepare a cash budget for the month ended July $31,2021,$ indicating how much, if anything, Arrowroot will need to borrow to meet its minimum cash requirement. $($Leave no cells blank $-$ be certain to enter $"0"$ wherever required.$)$