Sharpe Ltd made these estimates for the six months ending 31 December Estimates: Cash receipts from services provided: $60,000 Cash payments for expenses, (including rent paid in advance $3,000): $43,000 Purchase of equipment ($1,500 will not be paid until February): $20,000 Depreciation of equipment: $4,000 Borrowings: $15,000 The cash balance at 1 July is $13,000. The estimated cash balance at 31 December is