You are preparing a cash budget for Safari Inc. for the first quarter of 2024. You have summarized the following information. Safari Inc. Cash Budget Worksheet First Quarter, 2024 December January February Estimated Sales $825,000 $740,000 Estimated Credit Sales 770,000 690,000 Estimated Receipts: Cash sales 50,000 Collections of Accounts Receivable 75% of last month's credit sales 577,500 25% of current month credit sales 172,500 Total Accounts Receivable collections 750,000 Estimated purchases $485,000 453,000 Estimated payments of accounts payable 485,000 453,000 Other estimated disbursements for January 2024, include ____________________________ Wages and Salaries $280,000 Rent 35,000 Other Expenses 18,000 Tax Payments 105,000 Safaris projected cash balance at the beginning of January is $105,000 and the company desires to maintain a balance of $100,000 at the end of each month. Will Safari need to have a short-term loan in January? If yes, how much will Safari need? Question 2 options: Yes, $18,000. Yes, $118,000. No