Question 10 1 pts Trail Industries is preparing its cash budget for the third quarter of the current year. Sales for the third quarter are budgeted at $870,000 ($290,000 per month). Sales are 80% cash, with the remaining 20% on credit which is collected in the month following the month of sale On June 30 the cash balance is S88000 and the Accounts Receivable (all related to June sales) balance is $51,000. Operating expenses for the quarter are budgeted at $464,000, which includes $18,000 of depreciation. Cash expenses are paid in the month incurred. Cash purchases for merchandise inventory are budgeted at $392.000 for the quarter. What is the projected cash balance at the end of the third quarter? $131.000 $113,000 e $73.000 $4,000