14 A cash budget for the first three quarters of Brister Incorporated is given below (000 omitted). The company requires a minimum cash balance of at least $5,000 to start each quarter. If necessary, the company will borrow money from its bank to maintain this balance. The company will pay no Interest in Quarters 1, 2, and 3. It will repay as much of its borrowings as possible as soon as it has more than $5,000 in cash in a given quarter. Suppose the company starts the first quarter with no bank debt. How much total bank debt does the company expect to have at the end of the third quarter? Cash Budget Quarter (000 omitted) 8 01:52:49 1 2. 3 $8 Cash balance, beginning Add collections from customers 88 127 87 Total cash available Less disbursements: Purchase of Inventory 55 65 65 40 45 50 Selling and administrative expenses Equipment purchases Dividends 8 10 10 2 Total disbursements 2 ? 2 Excess (deficiency) of cash available over disbursements Financing: Borrowings Repayments Total financing Cash balance, ending 00 10 10 2 2 2 14 ? ? ? Equipment purchases Dividends Total disbursements Excess (deficiency) of cash available over disbursements Financing Borrowings Repayments Total financing Cash balance, ending X 01:52:46 ? ? ? ? Multiple Choice $49,000 O $5,000 $14,000 $40,000