The cash budget for the first three quarters of a company is given below 000 omitted. The company requires a minimum cash balance of at least $5,000 10 start each quarter. If necessary, the company wil 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 porrowings 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 del How much total bank debt does the company expect to have at the end of the third quarter? Cash Budget Quarter (000 omitted) 1 2 3 $9 Cash balance, beginning Add collections from customers 88 129 89 Total cash available 2 7 Less disbursements: 55 66 65 Purchase of inventory Selling and administrative expenses Equipment purchases 39 45 50 9 11 11 Dividends 2 2 2 2 2 Total disbursements Excess (deficiency of cash available over disbursements 2 2 2 Financing Borrowings Repayments Total financing Cash balance, ending 2 2