Use the following information to determine the ending cash balance to be reported on the month ended June 30 cash budget. Beginning cash balance on June 1, $95,000. Cash receipts from sales, $418,000. Budgeted cash payments for purchases, $273,000. Budgeted cash payments for salaries, $96,000. Other budgeted cash expenses, $58,000. Cash repayment of bank loan, $33,000. Budgeted depreciation expense, $35,000.

Multiple Choice

$18,000

$76,000

$53,000

$86,000

$111,000.