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 $ 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 Arrowroot Company wishes to maintain a minimum cash balance of 36,000 *Dividends are payable to shareholders of record on declaration date, 30 days after declaration.

Help Assignment #2 Saved 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.) ARROWROOT COMPANY Cash Budget for July 31, 2021 10 points Skipped Total cash available before current financing Less disbursements: Total disbursements 0 Excess (deficiency) of cash available over $ 0 disbursements Financing Bonowings Repayments Interest Total financing 2. Supposing the cash management policy at Arrowroot permits borrowing up to $36,000 for the purpose of financial slack, how much will be borrowed? Borrowings