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 $ 98,000 28,000 75,600 9,800 182,000 114,400 42,200 38,000 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 "O' wherever required) ARROWROOT COMPANY Cash Budget for July 31, 2021 Total cash available before current financing Less disbursements Total disbursements "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 "o wherever required). ARROWROOT COMPANY Cash Budget for July 31, 2021 Total cash available before current financing Less disbursements 5 Total disbursements Excess defidency of cash available verdurants Financing Borowing Reponents wool Toultanding