Dallas Company has the following sales forecasts for the selected three-month period in the current year: Month Sales April $12,000 May 7,000 June 8,000 Collection pattern: 65% of sales are collected in the month of the sale, 35% is collected in the following month. Minimum cash balance is $5,000. Cash can be borrowed from the local bank (assume no interest charges). How much will Dallas Company need to borrow from the bank balance at the end of April in order to maintain its minimum cash balance? Assume that cash is received only from customers and that $24,000 is paid out during April. Select one: a. $1,800 b. $1,200 C. $1.250 d. $1,500 Dallas Company has the following sales forecasts for the selected three-month period in the current year: Month Sales April $12,000 May 7,000 June 8,000 Collection pattern: 65% of sales are collected in the month of the sale, 35% is collected in the following month. Minimum cash balance is $5,000. Cash can be borrowed from the local bank (assume no interest charges). How much will Dallas Company need to borrow from the bank balance at the end of April in order to maintain its minimum cash balance? Assume that cash is received only from customers and that $24,000 is paid out during April. Select one: a. $1,800 b. $1,200 C. $1.250 d. $1,500