Desktop Settop id Help Part Two Time left 01:49:05 Question 1 Not yet answered Marked out of 12. 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 $5,000. 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: a $12,000 b. $1,000 c. None of the given answers d: $9,000 e515,000 O 0