Wildhorse Industries is preparing its cash budget for the third quarter of the current year. Sales for the third quarter are budgeted at

$$693000($ $$231000$ 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 $$4000,$ and the Accounts Receivable $($all related to June sales$)$ balance is $$41100.$

Operating expenses for the quarter are budgeted at $$371700,$ which includes $$14800$ of depreciation. Cash expenses are paid in the

month incurred. Cash purchases for merchandise inventory are budgeted at $$315000$ for the quarter. To prepare for the busy fourth

quarter, Wildhorse's desired cash balance on September $30$ is $$124500.$ How much financing will the company need at the end of the

third quarter?

$$22300$

$$68500$

$$124400$

$$37100$