Court Enterprises Inc. would like to prepare a summary cash budget for March. The following information is available: The cash balance at March 1 was estimated to be $3,000. March sales, all on account, were estimated to be $50,000. Sales are collected over a two-month period with 65 percent collected in the month of sale and the remainder in the subsequent month. February sales on account were $60,000. Inventory purchases are expected to be $20,000 in March. The company pays for one-half of inventory purchases in the month of purchase and the remainder in the subsequent month. February's purchases were $18,000. Cash disbursements for selling and administrative expenses are expected to be $4,000 in March. Depreciation expense for March is expected to be $5,000. Loan and interest payments for March are expected to be $25,000. What is the cash balance at the end of March expected to be? $ 8,500 $26,500 $ 3,500 $(3,500)