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 $114, 000 Dividends to be paid in cash in July 36,000 Cash expenditures to be paid in July for operating expenses 79, 600 Depreciation expense 11, 400 Cash collections to be received 190, 000 Merchandise purchases to be paid in cash 118, 406 Equipment to be purchased for cash 44, 600 Arrowroot Company wishes to maintain a minimum cash balance of 54 , 000 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 Total cash available before current financing Less disbursements: Total disbursements 0 Excess (deficiency) of cash available over disbursements $ 0 Financing: Borrowings Repayments Interest Total financing2. Supposing the cash management policy at Arrowroot permits borrowing up to $54,000 for the purpose of financial slack, how much will be borrowed