Cornell Company Is Preparing a Cash Budget for the Month

Multiple Choice

Cornell Company is preparing a cash budget for the month of June.The following information is available:
$\begin{array}{ll}\text { Cash Balance, May 31, } 2014 & \$ 11,000 \\\text { Cash collections from customers in June } & 43,000 \\\text { Cash paid for land in June } & 10,000 \\\text { Patent amortization expense in June } & 5,000 \\\text { Cash paid for merchandise in June } & 20,000 \\\text { Cash paid for operating expenses in June } & 20,000 \\\text { Cash dividend paid in June } & 5,000\end{array}$
The minimum cash balance desired is $5,000.What is the deficiency of cash before financing at June 30,2014?

A) $(5,000)
B) $(6,000)
C) $(11,000)
D) $(12,000)