QUESTION 1

Griswald Inc. would like to prepare a summary cash budget for the first quarter of 2009. The following information from the cash receipts and cash disbursements budgets are available:

	January		February		March
Cash receipts	$50,000		$72,000		$80,000
Cash disbursements	42,000		75,000		71,000

The company has a beginning cash balance on January 1, 2009 of $5,000. No other receipts and disbursements in the first quarter are expected. What is the cash balance at the end of March expected to be?

		$14,000
		$19,000
		$ 9,000
		$34,000