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21 The controller of Arrowroot Company wishes to improve the company's control system by preparing a monthly cash budget. The following information relates to the month ending July 31, 2021 June 30, 2021, cash balance Dividends to be paid in cash in July Cash expenditures to be paid in July for operating expenses Depreciation expense Cash collections to be received Merchandise purchases to be paid in cash Equipment to be purchased for cash Arrowroot Company wishes to maintain a minimum cash balance of $100,000 29,000 76,100 10,000 183,800 114,900 42,500 40,000 Required: 1. Prepare a cash budget for the month ended July 31, 2021, indicating how much, if anything, Arrowroot will need to borrow to meet its minimum cash requirement. (Leave no cells blank - be certain to enter"0" wherever required.) ARROWROOT COMPANY Cash Budget for July 31, 2021 Total cash available before current financing Less disbursements O OB * anything E Term Test 2 ved Help Save & Exit Su Required: 1. Prepare a cash budget for the month ended July 31, 2021, indicating how much, if anything. Arrowroot will need to borrow to meet its minimum cash requirement (Leave no cells blank - be certain to enter "O" wherever required.) 28 ARROWOT COMPANY Castelloruly 11.2001 5128.36 Total cash available before current financing Lass disbursements Total disbursements Excess (deficiency) of cash available over disbursements Financing Borrowings Repayments Interest Total financing 0 or anything > 1 Excess (deficiency) of cash available over disbursements Financing Borrowings Repayments Interest Total financing 27 2. Supposing the cash management policy at Arrowroot permits borrowing up to $40,000 for the purpose of financial slack, how much will be borrowed? Borrowings 3. This part of the question is not part of your Connect assignment * O or anything

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