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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
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 minimum cash balance of $122, eee 40,000 81,600 12,200 194,000 120,400 45,800 62,800 Requlred: 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.) 122,000 104.000 310.000 ARROWROOT COMPANY Cash Budget for July 31, 2021 Cash balance, beginning Add cash receipts: Collections from customers Total cash available before ourrent finanong Less disbursements: Dividends pald $ Operating expenses Payments to suppliers for merchandise Equipment 40,000 81,000 120,400 45,800 287.800 28.200 $ Total disbursements Excess (deficiency) of cash available over disbursements Financing Borrowings Repayments
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