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Goller Company is preparing a cash budget for the month of June. The following information is available: Cash balance, May 31,2015 $10,000 Cash collections from
Goller Company is preparing a cash budget for the month of June. The following information is available:
Cash balance, May 31,2015 $10,000
Cash collections from customers in June 66,000
cash paid for merchandise in June 42,000
cash paid for operating expenses in June 12,000
purchase furniture for cash in June 3,000
Depreciation expense in June 5,000
amortization expense in June 5,000
The minimum cash balance desired is $10,000. What is the cash balance on June 30, 2015?
a. $19,000
b. $10,000
c. $11,000
d. $9,000
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