Cullumber Industries is preparing its cash budget for the third quarter of the current year. Sales for the third quarter are budgeted at $696000 (\$232000 per month). Sales are 70% cash, with the remaining 30% on credit which is collected in the month following the month of sale. On June 30 , the cash balance is $38700, and the Accounts Receivable (all related to June sales) balance is $41200. Operating expenses for the quarter are budgeted at $372000, which includes $14900 of depreciation. Cash expenses are paid in the month incurred. Cash purchases for merchandise inventory are budgeted at $314600 for the quarter. To prepare for the busy fourth quarter, Cullumber's desired cash balance on September 30 is $124500. How much financing will the company need at the end of the third quarter? $146000$20300$89900$35200