Gamma Corp Subsequently,the Marketing Department Revised Its Figures for Cash Collections

Gamma Corp.has prepared a preliminary cash budget for the third quarter as shown below: $$\begin{array} { | l | r | r | r | } \hline \text { Cash Budget } & { \text { Jul } } & { \text { Aug } } & { \text { Sep } } \\\hline \text { Beginning cash balance } & \$ 32,000 & \$ 10,000 & \$ 14,500 \\\hline \text { Plus: Cash collections } & \$ 54,000 & \$ 52,000 & \underline { 47,200 } \\\hline \text { Cash available } & 86,000 & \$ 62,000 & \$ 61,700 \\\hline \text { Less: Cash payments: } & & & \\\hline \text { Purchases of direct materials } & 35,000 & 8,000 & 11,000 \\\hline \text { Operating expenses } & 40,000 & 30,500 & 30,800 \\\hline \text { Capital expenditures } & \underline { 1,000 } & \underline { 9,000 } & \underline { 7,700 } \\\hline \text { Ending cash balance } & \$ 10,000 & \$ 14,500 & \$ 12,200 \\\hline\end{array}$$ Subsequently,the marketing department revised its figures for cash collections.New data are as follows: $52,000 in July,$50,000 in August,and $42,000 in September.Based on the new data,calculate the new projected cash balance at the end of July.

A) $10,500
B) $10,000
C) $8,000
D) $3,000