Consider the following third-quarter budget data for TAP:

The company predicts that 4% of its credit sales will never be collected, 30% of its sales will be collected in the month of the sale, and the remaining 66% will be collected in the following month. Credit purchases will be paid in the month following the purchase.

June: credit sales = $138,603. Credit purchases = $102,157. Julys beginning cash = $184,250.

If TAP maintains a policy of always keeping a minimum cash balance of $75,000 as a buffer against uncertainty and forecasting errors, what is the cash surplus/deficit at the end of the quarter (i.e., end of September)?

TAP \& Brothers Third-Quarter Budget Data \begin{tabular}{|l|l|l|l|} \hline & July & August & September \\ \hline Credit Sales & 254,537 & 263,088 & 281,610 \\ \hline Credit Purchases & 97,493 & 116,896 & 138,952 \\ \hline Wages, Taxes, and Expenses & 26,640 & 31,395 & 33,383 \\ \hline Interest & 7,298 & 7,740 & 8,049 \\ \hline Equipment & 54,210 & 61,412 & 0 \\ \hline Purchases & & & \\ \hline \end{tabular}