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): Total Cash collection Total Cash disbursement for Purchases Oct Nov Dec 48,000 61,240 72,500 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.