The controller of Trenshaw Company wants to improve the company's control system by preparing a month-by-month cash budget. The following information is for the month ending July 31, 2014. $45,000 June 30, 2014, cash balance Dividends to be declared on July 15 12,000 Cash expenditures to be paid in July for operating 40,800 expenses Amortization expense in July 4,500 Cash collections to be received in July 90,000 Merchandise purchases to be paid in cash in July 56,200 Equipment to be purchased for cash in July 20,000 *Dividends are payable 30 days after declaration to shareholders of record on the declaration date. Trenshaw Company wants to keep a minimum cash balance of $25,000