1. Arnold Company Pty Ltd provided these estimates for the three months ending 30 June 2020, its first period of operation. The beginning cash balance is $1,000.

   Cash receipts from sales	$300 000
   Cash payments for expenses	130 000
   Payment for the purchase of new motor vehicle	15 000
   Depreciation of motor vehicle	15 000
   Repayment of a loan	100 000

   What is the estimated cash balance at 30 June 2010?

   	a.	$155000 surplus
   	b.	$50000 surplus
   	c.	$40000 surplus
   	d.	$55000 deficit
   	e.	$56000 surplus