The following information is drawn from Royal Industries' cash budget:

Cash Receipts $$41,800$

Beginning Cash Balance $$28,000$

Cash Payments $$53,500$

Desired Ending Cash Cushion $$23,000$

If there is a cash shortage, the company borrows money. If a surplus occurs funds are used to repay loans or to invest in short$-$term assets. The company had no debt before January $1$st$.$ The amount "needed" to borrow or the amount "available" in January would be

Multiple Choice

$$39,300$ available.

$$16,300$ available.

$$34,700$ needed.

$$6,700$ needed.