The controllier 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 10, 2021, cash balance bividends were declared on June 15 Cash expenditure to be paid in July for operating expenses Depreciation expense Cash collections to the received Merchandise purchases to be paid in cash Equipment to be purchased for cash Arrowroot Company wishes to maintain a sin cash balance of $180,000 39,000 77.00 10.600 106,00 116.400 43,400 46.000 Dividends are pnyable to shareholders of record on declaration date, 30 days after declaration Required: 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 ne cells blank becertain to wherever ARNOWROOT COMPANY Cash Budget for July 1, 2021 Total cash available before current tinanong Les deshumans mm RTL LEVEN Total cash available before current financing Les disbursements 02 0 $ 0 Total disbursements Excess (deficiency of cash available over disbursements Financing Borrowings Repayments Interest Total financing 2. Supposing the cash management policy at Arrowroot permits borrowing up to $46,000 for the purpose of financial slack, how much will be borrowed?