Calculate the final projected cash balance at the end of September.

Cash collections Cash payments: Purchases of direct materials Operating expenses Capital expenditures Jul $52,000 31,000 12,100 13,800 Aug $39,900 21 ,500 9,100 24,900 Sep $47,200 18,100 1 1 ,300 The cash balance on June 30 is projected to be $4,400. The company has to maintain a minimum cash balance of $5,000 and is authorized to borrow at the end of each month to make up any shortfalls. It may borrow in increments of $5,000 and has to pay interest every month at an annual rate of 4%. All financing transactions are assumed to take place at the end of the month. The loan balance should be repaid in increments of $5,000 whenever there is surplus cash. o A. o B. o D. $8,867 $21 ,584 $6,584 $56,067