The following information pertains to the October operating budget for Compass Corporation. The cash balance on October 1 is $20,000 Budgeted sales for October $100,000 and November $200,000. Collections for sales will be $50,000 for October. COGS to be paid in the month of the sale 60% of sales. Administrative costs are $10,000 each month. No loans are outstanding on October 1 The Company must maintain a minimum cash balance of $20,000 How much will Compass Corporation need to borrow in October? $0 None of the above $20.000 $10,000