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

June 30, 2021, cash balance	$	96,000
Dividends were declared on June 15*		27,000
Cash expenditures to be paid in July for operating expenses		75,100
Depreciation expense		9,600
Cash collections to be received		181,000
Merchandise purchases to be paid in cash		113,900
Equipment to be purchased for cash		41,900
Optimum wishes to maintain a minimum cash balance of		36,000

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

Required:

1. Prepare a cash budget for the month ending July 31, 2021, indicating how much, if anything, Arrowroot will need to borrow to meet its minimum cash requirement. (enter "0" wherever required).

ARROWROOT COMPANY Cash Budget for July 31, 2021 Total cash available before current financing Less disbursements: Total disbursements Excess (deficiency) of cash available over disbursements Financing: Borrowings Repayments Interest Total financing