Edelmar Corp. has prepared a preliminary cash budget for the third quarter as shown below: Cash Budget July Aug Sep Beginning cash balance $34,000 $10,000 $15,500 Plus: Cash collections 51,000 52,000 48,000 Cash available $85,000 $62,000 $63,500 Less: Cash payments: Purchases of direct materials 35,000 8,000 10,000 Operating expenses 39,000 30,500 30,900 Capital expenditures 1,000 8,000 7,400 Ending cash balance $10,000 $15,500 $15,200 Subsequently, the marketing department revised its figures for cash collections. New data are as follows: $54,000 in July, $56,000 in August, and $44,000 in September. Based on the new data, calculate the new projected cash balance at the end of July. O A. $13,000 O B. $22,500 O C. $18,200 O D. $10,000