Cash receipts and disbursements, integration with the balance sheet (LO4). Kris

VanKemp is a wholesaler of flowers, shipping them throughout the Pacific Northwest. Kris expects her April 1 balances in accounts receivable and accounts payable to be $25,000 and $6,000, respectively.

Kris informs you that she expects sales of $50,000, $40,000, and $46,000 during the months of March, April, and May, respectively. Kris collects 50% of her sales in cash during the month of sale and the remaining 50% in the following month.

Kris purchases all of her flowers from local growers. She pays for 80% of her purchases in the same month and the remaining 20% in the following month. Kris expects her purchases to be $30,000, $32,000, and $40,000 for March, April, and May, respectively.

Required:

a. What is Kriss expected balance for accounts receivable on May 31.

b. What is Kriss expected balance for accounts payable on May 31