Edelmar Corp.has prepared a preliminary cash budget for the third quarter as shown below: Subsequently,the marketing department revised its figures for cash collections.New data are as follows: $52,000 in July,$55,000 in August,and $42,000 in September.Based on the new data,calculate the new projected cash balance at the end of July.

Question

Edelmar Corp.has prepared a preliminary cash budget for the third quarter as shown below:  Subsequently,the marketing department revised its figures for cash collections.New data are as follows: $52,000 in July,$55,000 in August,and $42,000 in September.Based on the new data,calculate the new projected cash balance at the end of July.

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