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 Dividends to be paid in cash in July Cash expenditures to be paid in July for operating expenses Depreciation expense Cash collections to be received Merchandise purchases to be paid in cash Equipment to be purchased for cash Arrowroot Company wishes to maintain misun cash balance of $106,000 32,000 77,600 18,500 186,000 116,400 43,400 46,000 Required: 1. Prepare a cash budget for the month ended July 31 2021 Indicating how much. If anything. Atrowroot will need to borrow to meet Its minimum cash requirement. (Leave no cells blank.be certain to enter "o" wherever required.) ARROWROOT COMPANY Cash Budget for July 31, 2021 Total cash available before current financing Less debutsements 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 "o" 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 2. Supposing the cash management policy at Arrowroot permits borrowing up to $46,000 for the purpose of financial stack, how much will be borrowed? Borrowings 3. This part of the question is not part of your Connect assignment