Janeway, Inc has a cash balance of $24,000 on April 1
The company is now preparing the cash budget for the second quarter. Budgeted cash collections and payments are as follows:
Apr May Jun
Cash collections $24,000 $22,000 $24,000
Cash payments:
Purchases of direct materials 5,000 4,000 7,000
Operating expenses 5,300 5,000 5,000
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) $37,700
B) $48,000
C) $50,700
D) $62,700
D .D)
Apr May Jun
Beginning cash balance $24,000 $37,700 $50,700
Plus: Cash receipts 24,000 22,000 24,000
Cash available $48,000 $59,700 $74,700
Less: Cash payments
Purchases of direct materials 5,000 4,000 7,000
Operating expenses 5,300 5,000 5,000
Ending cash balance $37,700 $50,700 $62,700
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