Nobel Inc. has a cash balance of $20,000 on April 1, 2015. They are now preparing the cash budget for the second quarter. Budgeted cash collections and payments are as follows:

There are no budgeted capital expenditures or financing transactions during the quarter. Based on the above data, calculate the projected cash balance at the end of June.

A) $35,700

B) $21,900

C) $46,100

D) $54,600

Transcribed Image Text:

Cash collections Cash payments: Purchases of inventory Operating expenses Apr $25,000 5,800 3,500 May June $22,000 $20,000 7,000 4,600 6,200 5,300 Cash collections Cash payments: Purchases of inventory Operating expenses Apr $25,000 5,800 3,500 May June $22,000 $20,000 7,000 4,600 6,200 5,300

Answer rating: 100% (QA)

D 54600 Explanation April May June Beginning cash bala... View the full answer