The controller of Optimum wishes to improve the companys 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 were declared on June 15*		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		118,400
Equipment to be purchased for cash		44,600
Optimum wishes to maintain a minimum cash balance of		54,000

*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).

ARROWROOT COMPANY
Cash Budget for July 31, 2021
Total cash available before current financing		0
Less disbursements:
Total disbursements		0
Excess (deficiency) of cash available over disbursements		$0
Financing:
Borrowings
Repayments
Interest
Total financing		0