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 were declared on June 15 Cash uxpenditures to be paid in July for operating pe Depreciation expense Cash collections to be received Merchandise purchases to be paid in cash Equipant to be purchased for cash Arrowroot Company wishes to maintain minimaaste balance of $13,00 44,000 13,600 13,000 190.000 122,400 57.000 Dividends are payable to shareholders of record on declaration date 20 days after declaration Required: 1. Prepare a cash budget for the month ended July 31, 2021, indicating how much if anything. Arrowroot will need to bottow to meet its minimum cash requirement. (Leave no cells blonk-be certain to enter "o" wherever required) $ 130 000 190 000 52000 ARROWROOT COMPANY Cash Budget for July 31, 2021 Cash balance beginning Add cash receipts Collections from customer Total cash available before current financing Less disbursements Payments to suppliers for merchandise s Equipment Dividends paid 122.400 47 000 44000 Equipment Dividonds paid 47.000 44.000 213.400 114,000 $ Total disbursements Excess (deficiency) of cash available over distusoments Financing Horrowings Ropayments interest Total financing 44000 0 0 44600 70 000 $ 2. Supposing the cash management policy at Arrowroot permits borrowing up to $70,000 for the purpose of financial slack how much will be borrowed? Borrowings