The cash budget for the first three quarters of the CASHBUD 567 company is given below 1000 omitted. The company requires a minimum cash balance of at least 55,000 to 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 12 and 3. It will repay as much of as 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) + 2 3 $9 7 RB 128 BR ? 21 ? 55 65 65 45 49 40 9 2 10 11 2 Cash balance beginning Add collections from customers Total Cash available Less disbursements: Purchase of inventory Selling and administrative expenses Equipment purchases Dividends Total disbursements Excess deficiency of cash available over disbursements Financing Borrowings Repayments Total Fnancing Cash balance, ending 2 7 7 7 7 2 2 Multiple Choice $14.000 $6.000 $47.000 $39.000