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 a mininun cash balance of $110, Ne 34,000 78,600 11,000 188, 117,400 44,00 50,000 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 "o" wherever required.) ARROWROOT COMPANY Cash Dudget for July 1, 2021 0 Total cash available before current financing Less disbursements 0 0 $ Total disbursements Excen defcency of cash wailable over disbursements Financing Bortowe Repayments Interest Total financing 2. Supposing the cath management policy 01 Arrowroot permits borrowing up to $50 000 for the purpose of financial sick, how much will be borrowed? Bosning