24. Advance Corporation has budgeted for the following orporation has budgeted for the following sales: Total Sales February March Credit Sales $12,000 $10,000 $20,000 $15,000 $20,000 $25,000 April Credit Sales are collected as follows: 40% in the month of sale and 60% int Tollowing the sale. What are the total cash collections (cash receipts) for April? A. $17,000 B. $18,000 C. $19,000 D. $20,000 E. $23,000 geous 3ooo 25. Twin Rivers Corporation has budgeted for the following sales: February March April Total Sales | $15,000 $20,000 $25,000 Credit Sales $12.000 $10,000 $20,000 5600 Credit Sales are collected as follows: 40% in the month of sale and 60% in the month following the sale. What is the accounts receivable balance at April 30? A. $ 8,000 B. $10,000 $12,000 D. $20,000 E. Cannot be determined based on the information provided 26. Great Skot expects to have cash collections of $532,160 and cash disbursements of $581,720 in June. If Skot has a minimum cash balance of $40,000, how much will Skot have to borrow if it started the month with a cash balance of $52,000? a. will not have to borrow; cash balance of $52,000. b. will not have to borrow; cash balance of $49,560. c. will need to borrow $49,560 52,6oo 584 d.) will need to borrow $37,560 532160 -581,720