Feeney Furniture prepared the following sales budget:

Month	Cash Sales	Credit Sales
March	$22,000	$13,000
April	$40,000	$20,000
May	$38,000	$40,000
June	$59,000	$52,000

Credit collections are 5% two months following the sale, 30% in the month following the sale, and 62% in the month of sale. The remaining 3% is expected to be uncollectible. What is the total cash received in April from the April sales at Feeney Furniture?

		$27,600
		$60,000
		$52,400
		$12,400

Expected purchases for June and July are $76,000 and $90,000, respectively. Purchases for May were $56,000. All purchases are paid 40% in the month of purchase and 60% the following month. At what amount are June payments for purchases budgeted?

		$100,000
		$64,000
		$68,000
		$88,800