The controller of Swifty Company wants to improve the company's control system by preparing a month$-$by$-$month cash budget. The following information is for the month ending July $31,2022.$

June $30,2022,$ cash balance

$$45,900$

Dividends to be declared on July $15**$

$12,240$

Cash expenditures to be paid in July for operating expenses

$41,616$

Amortization expense in July

$4,590$

Cash collections to be received in July

$91,800$

Merchandise purchases to be paid in cash in July

$57,324$

Equipment to be purchased for cash in July

$20,400$

$*$Dividends are payable $30$ days after declaration to shareholders of record on the declaration date.

Swifty Company wants to keep a minimum cash balance of $$25,500.$

$($a$)$

Prepare a cash budget for the month ended July $31,2022,$ and indicate how much money, if any, Swifty Company will need to borrow to meet its minimum cash requirement.

WATERWAY COMPANY

Cash Budget