Domark Corporation, a merchandising company, has provided the following budget data: (7 marks)

	Purchases	Sales
January	$42,000	$72,000
February	48,000	66,000
March	36,000	60,000
April	54,000	78,000
May	60,000	66,000

Collections from customers are normally 70% in the month of sale, 20% in the month following the sale, and 9% in the second month following the sale. The balance is expected to be uncollectible. Domark pays for purchases in the month following the purchase. Cash disbursements for expenses other than merchandise purchases are expected to be $14,400 for May. Domark's cash balance on May 1 was $22,000. Required:

a) Compute the expected cash collections during May. b) Compute the expected cash balance on May 31.