A company requires its services to make a cash budget for the quarter from March to May, for which it provides information on the projected income and expenses.

			March	April	May
Cash Inflows			$430,000	$150,000	$350,000
Cash payments			$380,000	$260,000	$255,000

• The company policy states to have a minimum of $20,000 and a maximum of $22,000 in cash at the end of each month. If the surplus exceeds the maximum amount, then it will go to marketable securities. Loan can be paid in full or in part payments.
• You are asked to prepare a monthly Forecasted cash flow statement, calculating how much the company will borrow in case of losses, or how much should be invested in marketable securities in the event of surpluses
• The beginning cash balance is $ 20,000

How much will you pay to Bank loans in May?