A cash budget by quarters for the Carney Company is given below (note that some data are missing).Missing data amounts have been keyed with either question marks or lower case letters (a, b, c, etc.); these lower case letters will be referred to in the questions that follow.It may be necessary to calculate a value for items where a question mark appears.The company requires a minimum cash balance of at least $10,000 to start a quarter. All data are in thousands.

Carney Corporation

Cash Budget

Quarterso

1 2 3 4

Cash balance, beginning ............... $16 $ e $13 $10

Add collections from customers...... a 70 67 80

Total cash available........................ ? ? 80 90

Less disbursements:

Purchase of inventory ................... 31 c 40 35

Operating expenses ...................... 35 22 ? 15

Equipment purchases..................... 10 14 19 0

Dividends........................................ 0 6 0 5

Total disbursements ................... 66 ? f 55

Excess (deficiency) of cash available

over disbursements...................... 7 17 (2) 35

Financing:

Borrowings...................................... b -- 12 --

Repayments (including interest).... -- d -- (21)

Total financing ............................. ? ? 12 (21)

Cash balance, ending ....................... 10 ? $10 $14

1)The collections from customers during the first quarter (item a) are:

a.$50

b.$60

c.$57

d.$73

2)The borrowing required during the first quarter to meet the minimum cash balance (item b) is:

a.$0

b.$7

c.$10

d.$3