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Question
Berkeley Products has a cash balance of $20,000 at April 1, 2011. They are now preparing the cash budget for the second quarter. Budgeted cash collections and payments are as follows:
| Apr | May | Jun | |
| Cash collections | $12,000 | $9,000 | $10,500 |
| Cash payments: | |||
| Purchases of inventory | 4,600 | 4,200 | 4,000 |
| Operating expenses | 5,000 | 5,200 | 4,800 |
There are no budgeted capital expenditures or financing transactions during the quarter. Based on the above data, what is the projected cash balance at the end of June?
A) $22,000
B) $21,900
C) $23,700
D) $22,400
Answer
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Related questions
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