Axa Products has a bank account balance of $90,000 at 1^st July, 2018. In July, the following transactions are expected to occur:

$

Cash sales 12 000

Cash Receipts from Debtors 8 000

Wages to be paid 4 600

Purchase of new machine for cash 35 000

Rent to be paid 2 000

Cash purchases of Trade goods 45 000

What is the closing cash balance at 31^st July, 2018?

Select one:

a. $25,400

b. $23,400

c. -$68,600

d. -$66,600