Question Two (20 Marks) Salam company is planning its cash needs for the fourth quarter. The following information has been assembled to assist in preparing a cash budget for the quarter: a. The Total cash collections and disbursement for purchases are as follows (All amounts are in dollars): Oct Nov Dec Total Cash collection 48,000 61,240 72,500 Total Cash disbursement for Purchases 38,000 36,750 30,375 b. Selling and administrative expenses will be incurred and paid as follows: Selling expenses 9,300 10,400 7,000 Administrative expenses 5,400 5,200 3,300 c. Land costing $5,500 will be purchased in October. d. Dividends of $2,000 will be declared and paid in November. e. The cash balance on October 1st is $12,000. f. The company must maintain a cash balance of at least $18,000 at the end of each month. g. The interest rate on the loans is 10% per year. The company's policy is to repay the loan plus accumulated interest at the end of the quarter. Required: (Use rounding if it is needed). Prepare: A cash budget (20 mark) Cover Page, Introduction and formatting 1. Cover page (2 marks) 2. Table of contents (2 marks) 3. Introduction (2 marks) 4. Referencing (2 marks) 5. Formatting (2 marks). Total (10 marks)