Clyde, Inc. has a cash balance of $20,000 on April 1. The company is now preparing the cash budget for the second quarter. Budgeted cash collections and payments are as follows: May Jun Apr $26,000 Cash collections $22,000 $22,000 Cash payments: ayments: Purchases of direct materials 4000 5800 5000 Operating expenses 3500 6000 5300 There are no budgeted capital expenditures or financing transactions during the quarter. Based on the above data, calculate the projected cash balance at the end of April. A. $38,500 B. $26,000 C. $46,000 D. $42,000