Tri-County Social Service Agency is a not-for-profit organization in the Midwest. Use the following information to complete the cash budget for the year ending December 31. The Board of Trustees requires that Tri-County maintain a minimum cash balance of $17,000. If cash is short, the agency may borrow from an endowment fund the amount required to maintain the $17,000 minimum. It is anticipated that the year will begin with an $20,000 cash balance. Contract revenue is received evenly during the year. Mental health income is expected to grow by $3,000 in the second and third quarters; no change is expected in the fourth quarter. Required: 2. Complete the cash budget for each quarter and the year as a whole. 3. Determine the amount that the agency will owe the endowment fund at year-end. Complete this question by entering your answers in the tabs below. Required 2 Required 3 Complete the cash budget for each quarter and the year as a whole. (Cash deficiency and repayments should be indicated by a minus sign. Enter your answers in thousands.) IV Year $ 20 215 530 Cash Budget for Tri-County Social Service Agency (in thousands) Quarters D I III Cash balance, beginning Receipts: Grants 7095 Contracts Mental health income 50 Charitable donations 450 310 Total cash available 508 452 Less Disbursements: Salaries and benefits Office expenses 100 88 Equipment purchases & maintenance 483 Specific assistance 23 16 18 Total disbursements Excess (deficiency) of cash available over disbursements (64) Financing: Borrowings from endowment fund 1 116 Repayments (39) Total financing effects Cash balance, ending 343 1,740 76 349 150