Question:
A company is preparing a cash budget for the month of August.
Cash balance, July 31, 2015 $20,000
Cash Collections from customer in August 46,000
Cash paid for merchandise in August 42,000
Paid operating expenses in August 12,000
Purchase furniture for cash in August 3,000
Depreciation expense in August 2,000
Amortization expense in August 4,000
The minimum cash balance desired is $10,000. What is the deficiency of cash before financing on August 30, 2015?