Burns Corp has provided a part of its budget for the second quarter

Apr May Jun
Cash collections $43,000 $45,000 $50,000
Cash payments:
Purchases of direct materials 7,200 5,000 7,000
Operating expenses 6,000 7,900 7,000
Capital expenditures 4,000 4,600 20,000

The cash balance on April 1 is $12,000. Assume that there will be no financing transactions or costs during the quarter. Calculate the projected cash balance at the end of June.
A) $115,300
B) $37,800
C) $81,300
D) $65,300

C .C)
Apr May Jun
Beginning cash balance $12,000 $37,800 $65,300
Plus: Receipts from customers 43,000 45,000 50,000
Total cash available $55,000 $82,800 $115,300
Less: Payment for purchases of direct materials 7,200 5,000 7,000
Operating expenses 6,000 7,900 7,000
Capital expenditures 4,000 4,600 20,000
Ending cash balance $37,800 $65,300 $81,300