9. Home Corporation will open a new store on January 1. Based on experience from its other retail making the following sales projections: January February March April $60,000 $30,000 $40,000 $40,000 $40,000 $50,000 $60,000 $80,000 Home Corporation estimates that 70% of the credit sales will be collected in the month following the month of sale, with the balance collected in the second month following the month of sale. The total cash receipts expected during April will be: A. $57,000 B. $ 74,000 C. $114,000 D. $97,000 E. $ 83,600 10. Koko Corporations budget for April and May includes the following cted Cash collections urchases of direct materials Apr $40 Jun $42,000 May 535, 20000 14,000 20 pital expenditures The cash balance on April 1 is $12,000. The minimum cash desired is $20,000. Within the operating expenses, the company records $1,500 of depreciation expense each month. The company pays 50% of direct materials purchases in the month the purchase occurred and 50% in the following month. Calculate the projected cash balance at the end of May A) $48,900 B) $33,650 C) $31,550 D) $30,050 E) $22,900