XYZ company is preparing its cash budget for the first quarter of the year. It has $10,000 in cash at the beginning of the period. Cash collections from customers for the quarter are budgeted at $28,000. Cash payment during the quarter for inventory purchases are budgeted at $25,000. The desired cash balance at the end of the quarter is $12,000. Other operating expenses for the quarter are budgeted at $20,000, which includes $3,000 depreciation. Cash expenses are paid in the month incurred. How much borrowing will the company need during the quarter? Select one: O a. $19.000 O b. $16.000 O c. None of the given answers O d. $22,000 Oe. $8,000