Q1) Wallace Company should maintain a minimum cash balance of $30,000. At the beginning of February company's cash balance was $50,000. The budget for February is as follows:
| Cash receipts |
$290,000 |
| Cash disbursements |
$245,000 |
| Cash dividend |
$30,000 |
| Purchase machinery |
$55,000 |
In February the Wallace Company will require to borrow?