Use the following information to answer the next three questions: Janus Industries has budgeted the following information for January: Cash Receipts Beginning Cash Balance Cash Payments Desired Ending Cash Balance If there is a cash shortage, the company borrows money from the bank. All cash is borrowed at the beginning of the month in $1,000 increments. Interest is paid monthly on the first day of the following month. The interest rate is 1% per month. The company had no debt before January 1st. $40,000 $10,000 $48,000 7,000 20. The shortage or surplus of cash before considering cash borrowed or interest payments in January would be a. $5,000 surplus. b. $10,000 shortage. c. $7,000 surplus. d. $2,000 surplus. 21. The ending cash balance on January 31 would be a. $5,000. b. $4,950. c. $4,970. d. $7,000. 22. The amount of interest paid in February would be a. $50. b. $300. d. $100