1. The following cash forecasts are made for Quarter 1 2021: 1.Cash sales $380,000 2.Credit Sales $70,000 to be collected in Quarter 2 2.Beginning cash balance $30,000. 3.Operating expenses of $420,000 including depreciation of $20,000 What is the projected ending cash balance for Quarter 1 2021?

A. $60,000

B. $10,000

C. $30,000

D. $40,000

2. Raja Furniture sells furniture. Its policy is to hold 3% of expected sales as its closing inventory. Expected sales for 2021 are Quarter 1 30,000 units Quarter 2 40,000 units Quarter 3 33,000 units Quarter 4 42,000 units What is the opening inventory of Quarter 3?

A. 9,900 units B. 1,200 units C. 9,000 units D. 1,260 units