All sales at Meeks Company, a wholesaler, are made on credit. Experience has shown that 70% of the accounts receivable are collected in the month of the sale, 26% are collected in the month following the sale, and the remaining 4% are uncollectible. Actual sales for March and budgeted sales for the following four months are given below: March (actual sales). April. May. June. $200,000 $300,000 $500,000 $700,000 $400,000 July The company's cost of goods sold is equal to 60% of sales. All purchases of inventory are made on credit. Meeks Company pays for one half of a month's purchases in the month of purchase, and the other half in the month following purchase. The company requires that end-of-month inventories be equal to 25% of the cost of goods sold for the next month. June beg.cash balance is 40k, collection totals 620k, payment for purchase is 352.5k, all other cost to be paid 182k, depreciation 18k, bad debt 28k, what is the end. cash bal.? 125,500 79,500 97,500 107,500