Chaterlain Company Is Preparing Its Budget for the 3^rd Quarter

Chaterlain Company is preparing its budget for the 3^rd quarter. Cash balance on July 31 was $30,000. Assume there is no minimum balance of cash required and no borrowing is undertaken. Additional budgeted data is provided here: $\begin{array}{|l|r|r|r|} \hline&{\text { Jul }} &{\text { Aug }} &{\text { Sep }} \\\hline \text { Cash collections } & \$ 50,000 & \$ 51,000 & \$ 52,000 \\\hline \text { Cash payments: } & & & \\\hline \text { Purchases of inventory } & 20,000 & 19,000 & 18,000 \\\hline \text { Operating expenses } & 25,000 & 21,000 & 32,000 \\\hline \text { Capital expenditures } & 5,000 & 9,000 & 16,000\\\hline\end{array}$ Calculate the balance of cash at the end of August.

A) $19,100
B) $28,800
C) $29,050
D) $32,000