My answer was $87,000 and it was wrong :(

Consider the following:

Bank balance at 1 January $63,000 (in funds)

Budgeted cash receipts for January $70,000 and February $80,000.

Operating expenses are budgeted as December $43,000, January $46,000 and February $29,000.

Operating expenses are paid in cash in the month after they are incurred.

Ignore GST.

Depreciation expenses are budgeted as $5,000 per month and are included in the above operating expenses.

Based on this information, the budgeted Closing Cash Balance at the end of January