Chatelain Company is preparing its budget for the third quarter. The cash balance on June 30 was $32,000. Additional budgeted data are provided here:

	Jul	Aug	Sep
Cash collections	$54,000	$53,000	$54,000
Cash payments
Purchases of direct materials	22,000	24,000	21,000
Operating expenses	21,000	19,000	27,000
Capital expenditures	8,000	9,000	13,000

What amount should be shown in the cash budget for the cash balance at the end of July?

Your answer:
	$35,000
	$86,000
	$19,000
	$105,000