Walter Company has the following information for the month of March: Cash balance, March 1 Collections from customers Paid to suppliers Manufacturing overhead Direct labor Selling and administrative expenses $ 19,320 46,500 24,300 8,100 9.250 6,200 Walter pays wages and other cash expenses in the month incurred Manufacturing overhead includes $2.200 for machinery depreciation, but the amount for selling and administrative expenses is exclusive of depreciation Additionally. Walter also expects to buy a piece of property for $9,000 during March Required: 1. Prepare Walter's cash budget for the month of March Beginning Cash Balance Budgeted Cash Receipts Budgeted Cash Payments Preliminary Cash Balance 2. If the company wants to maintain a minimum balance of $500. How much should the company borrow? Please show your calculation or explain your rationale