Walter Enterprises expects its September sales to be 20% higher than its August sales of $150,000 Purchases were $100,000 in August and are expected to be $120,000 in September. All sales are on credit and are collected as follows 30% in the month of the sale and 70% in the following month. Merchandise purchases are paid as follows: 25% in the month of purchase and 75% in the following month. The beginning cash balance on September 1 is $7.500. The ending cash balance on September 30 would be Multiple Choice $31,500 $67,500 $54,000 $61,500 $136,500