Jensen Company is preparing a cash budget for the month of June. The following information is available:

Cash Balance, May 31, 2015 $10,000
Cash collections from customers in June 76,000
Cash paid for merchandise in June 42,000
Paid operating expenses in June 17,000
Purchase furniture for cash in June 5,000
Depreciation expense in June 2,000
Amortization expense in June 3,000

The minimum cash balance desired is $10,000. What are the net cash receipts and disbursements for the month of June?
A) $7,000
B) $10,000
C) $12,000
D) $17,000

C