@ 47% 9:44 PM psu.instructure.com D | Question 9 2 pts Consider the following third-quarter budget data for TAP & Brothers: TAP & Brothers Third-Quarter Budget Data July August September Credit Sales 255538 264664 287956 Credit Purchases 97184 115062 131463 Wages, Taxes, and 26305 31169 33665 Expenses Interest 7125 7788 8043 Equipment 54430 61875 o The company predicts that 4% of its credit sales will never be collected, 30% of its sales will be collected in the month of the sale, and the remaining 66% will be collected in the following month. Credit purchases will be paid in the month following the purchase. e In June, credit sales were $138803, and credit purchases were $102722 July's beginning cash is $184421 If TAP maintains a policy of always keeping a minimum cash balance of $75,000 as a buffer against uncertainty and forecasting errors, what is the cash surplus/deficit at the end of the quarter li.e, end of September)? (Answer surplus as a positive number or deficit as a negative number, Round answer to O decimal places. Do not round intermediate calculations) Topic: Cash Budget