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Question
Zygot Biotech Company is budgeting for the 3rd quarter, and provide the following data:
| Jul | Aug | Sep | |
| Cash collections | $50,000 | $40,000 | $48,000 |
| Cash payments: | |||
| Purchases of inventory | 31,000 | 22,000 | 18,000 |
| Operating expenses | 12,000 | 9,000 | 11,600 |
| Capital expenditures | 0 | 19,000 | 0 |
The cash balance at June 30 is projected to be $5,600. There are no financing transactions planned in the 3rd quarter. What is the projected cash balance at the end of September?
A) $21,000
B) $12,600
C) $18,000
D) $2,600
Answer
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