American Company is preparing its budgets for the third quarter. Cash balance on July 31 was $32,000. Assume there is no minimum balance of cash required and no borrowing in undertaken. Additional budgets data are provided here: Jul Aug Sep Cash collections $53,000 $53,000 $51,000 Cash payments Purchases of direct materials 25,000 19,000 18,000 Operating expenses 31,000 30,000 30,000 Capital expenditures 9,000 15,000 10,000 Calculate the projected balance of cash at the end of August $36000 $117000 $21000 $32000