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7.ABC Corporation began operations on January 1stof this year with a cash balance of $250,000. ABC had sales of $200,000 for the month of January, all on credit. ABC allows its customers 30 days to pay. ABC's expenses for January equal $150,000, and ABC's ending balance in accounts payable at January 31stis $50,000. In its cash budget for January, ABC's ending cash balance should be equal to (Points : 2)

$300,000 because of GAAP accrual accounting rules. $150,000. $200,000. $100,000