ER Disconnect Time Limit: 2:30:00 Time Left:2:23:11 MT Test- Mgmt Acct HR - Win 2022- Requires Respondus LockDown Browser Modurotoluwa Adefemi: Attempt 1 Page 1: 2 3 Montero Corporation, a merchandising company, has provided the following budget data: Purchases Sales 5 January $42,000 $72,000 February 48,000 $6,000 March 36,000 Page 2: 60,000 April 54,000 78,000 7 May 8 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. Montero pays for purchases in the month following the purchase. Cash disbursements for expenses other than merchandise purchases are expected to 10 11 12 be $14,400 for May. Montero's cash balance at May 1 was $22,000. Required (show all calculations): Page 3: a. Compute the expected cash collections during May. b. Compute the expected cash balance at May 31. 13 14 15 (Hint: use the table format below for part a & b - Enable the HTML Editor to write your answer] Expected Collections Month Sx TOSHIBA48:02 Modurotoluwa Adefemi: Attempt 1 alles Respondus LockD [Hint: use the table format below for part a & b - Enable the HTML Editor to write your answer] Month Sales Expected Collections * % SX Sx Total Balance, May 1 Expected collections Expected disbursements April purchases to be paid in Sxx May Cash disbursements for XX expenses Total disbursements Expected ending balance + v BIUAEEv Paragraph TOSHIBA