You are provided with the following information taken from Washburne Inc.s March 31, 2012, balance sheet.

Cash		$12,486
Accounts receivable		22,639
Inventory		36,623
Property, plant, and equipment, net of depreciation		124,503
Accounts payable		22,721
Common stock		153,957
Retained earnings		12,126

Additional information concerning Washburne Inc. is as follows.

1.		Gross profit is26% of sales.
2.		Actual and budgeted sales data:
		March (actual)		$46,751
		April (budgeted)		71,414

3.		Cash collections expected in April are:
		March		$18,700		(40% of $46,751)
		April		42,848		(60% of $71,414)
				$61,548

4.		Half of a months purchases are paid for in the month of purchase and half in the following month. Cash disbursements expected in April are:
		Purchases March	$22,721
		Purchases April	28,333
			$51,054

5.		Cash operating costs are anticipated to be $11,710for the month of April.
6.		Equipment costing $2,568will be purchased for cash in April.
7.		The company wishes to maintain a minimum cash balance of $12,478. An open line of credit is available at the bank. All borrowing is done at the beginning of the month, and all repayments are made at the end of the month. The interest rate is14% per year, and interest expense is accrued at the end of the month and paid in the following month.

Prepare a cash budget for the month of April. Determine how much cash Washburne Inc. must borrow, or can repay, in April.