In June,Erie Plastics Had an Ending Cash Balance of $55,000

In June,Erie Plastics had an ending cash balance of $55,000.In July,the firm had total cash receipts of $70,000 and total cash disbursements of $10,000.The minimum cash balance required by the firm is $25,000.At the end of July,Erie Plastics had

A) an excess cash balance of $25,000
B) An excess cash balance of $0
C) required financing of $10,000
D) required financing of $25,000
E) none of the above