Chatelaine Company is preparing its budget for the 3rd 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:

Calculate the balance of cash at the end of August.

A) $19,100

B) $28,800

C) $29,050

D) $32,000

Jul $50,000 Cash collections Cash payments: Purchases of inventory 20,000 Operating expenses Capital expenditures Aug Sep $51,000 $52,000 19,000 25,000 21,000 5,000 9,000 18,000 32,000 16,000