Berman Company is preparing its budget for the third quarter Cash balance on July 31 was $30,000. Assume there is no minimum balance of cash required and no borrowing is undertaken Additional budgeted data are provided here July $56,000 Aug $56,000 Sep 556.000 Cash collections Cash payments Purchases of direct materials Operating expenses Capital expenditures 24,000 32,000 16,000 18,000 27,000 5,000 26,000 25 000 6,000 Calculate the projected balance of cash at the end of August O A $106.000 OB. $20.000 OC. $36,000 OD. $41,000 June sales were $26.000, while projected sales for July and August were $14,000 and 569,000, respectively Sales are 60% cash and 40% credit All credit sales are collected in the month following the sale Calculate expected collections for July OA $36,800 OB. $10,400 OC. $33,200 OD. $26 400