BRIEF EXERCISE 7-11 Tracking Cash Collections and Disbursements [LO2- CC6, 8, 13] The following information relates to The Gardens Inc. for July of this year: Opening cash balance Depreciation expense Dividends declared Cash collections Equipment, loss on sale (original cost $14,000) Cash operating expenses Cash purchases of merchandise Required: What will be the company's cash balance on July 31? Assume current book value of equipment is $15,000. $16,000 5,000 7,000 34,000 4,000 15,000 25,000