Question 22 4 pts Consider the following third-quarter budget data for TAP & Brothers: TAP & Brothers Third-Quarter Budget Data July August September Credit Sales 252,208 267,513 281,958 Credit 97,842 112,540 132,337 Purchases Wages, Taxes, 26,650 31,766 33,737 and Expenses Interest 7,246 7,594 8,062 Equipment 54,808 61,355 0 Purchases 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. In June, credit sales were $138,459, and credit purchases were $102,832 July's beginning cash is $184,830 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 (i.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) ments/syllabus