Compute the December 31, 2020 ending cash balance for Texas Equipment Company, based on the following information. Show all computations

Beginning cash balance, June 30, 2020 = $3,000 Sales Totals are as follows: July = $4,000; August = $3,000; September = $4,000; October = $3,000; November = $4,000; December = $3,000 75 percent of the sales are in cash. The other 25 percent are accounts receivable collected in the next month. The owner plans to invest another $10,000 in cash in September. Montthly Expenses are as follows: Rent = $1,500 Utilities = $500 Wages = $2,500 A tax prepayment of $2,500 will be paid in September. The business will buy $3,500 in equipment with cash in October.