The controller of Optimum 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 were declared on June 15* 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 Optimum wishes to maintain a minimum cash balance of $ 96,eee 27,00 75, 100 9,600 181, eee 113,900 41,900 36,000 *Dividends are payable to shareholders of record on declaration date, 30 days after declaration Required: 1. Prepare a cash budget for the month ending July 31, 2021, Indicating how much, if anything, Optimum will need to borrow to meet its minimum cash requirement. (Leave no cells blank - enter "0" wherever required). S ARROWROOT COMPANY Cash Budget for July 31, 2021 Cash balance, beginning Add cash receipts: Collections from customers Total cash available before current financing Less disbursements: 98,000 181,000 277,000 - S 75,100 113.900 Borrowings Cash balance, beginning Cash balance, ending 41,900 27,000 257.900 19.100 $ Dividends paid Equipment Interest Borrowings Repayments Interest Total financing Cash balance, ending 0 Required: 1. Prepare a cash budget for the month ending July 31, 2021, Indicating how much, if anything, Optimum will need to borrow to meet its minimum cash requirement. (Leave no cells blank - enter "O" wherever required). S 90.000 ARROWROOT COMPANY Cash Budget for July 31, 2021 Cash balance, beginning Add cash receipts: Collections from customers Total cash available before current financing Less disbursements: 181.000 277.000 S 75.100 113.900 41.900 27.000 257.900 S 19.100 Equipment Dividends paid Total disbursements Excess (deficiency) of cash available over disbursements Financing: Borrowings Repayments Interest Total financing Cash balance, ending 0