88. Loachapoka Company budgeted the following transactions for April 2008: Sales (75% collected in month of sale) Cash Operating Expenses $200,000 Cash Purchases of Capital Investments 105,000 75,000 Cash Payment of Debt 15,000 Depreciation on Operating Assets 12,000 The beginning cash balance was $50,000. The company desires to have a $25,000 ending cash balance. What is the amount of the cash overage or shortage? A) $20,000 overage B) $40,000 shortage C) $20,000 shortage D) There is no overage or shortage. Answer: C