Pavone Corp. has prepared a preliminary cash budget for the third quarter as shown below:

Cash Budget	Jul	Aug	Sep
Beginning cash balance	$34,000	$15,000	$18,500
Plus: Cash collections	$56,000	$52,000	47,000
Cash available	90,000	$67,000	$65,500
Less: Cash payments:
Purchases of direct materials	35,000	9,000	11,000
Operating expenses	40,000	30,500	30,800
Capital expenditures	0	9,000	7,400
Ending cash balance	$15,000	$18,500	$16,300

Subsequently, the marketing department revised its figures for cash collections. New data are as follows: $53,000 in July, $56,000 in August, and $43,000 in September. Based on the new data, calculate the new projected cash balance at the end of September.

A.

$16,300

B.

$19,500

C.

$13,300

D.

$12,000