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Louise, Inc. has a cash balance of $22,000 on April 1. The company is now preparing the cash budget for the second quarter. Budgeted cash

Louise, Inc. has a cash balance of $22,000 on April 1. The company is now preparing the cash budget for the second quarter. Budgeted cash collections and payments are as follows:

Apr

May

Jun

Cash collections

$25,000

$24,000

$20,000

Cash payments:

Purchases of direct materials

4,600

5,000

4,000

Operating expenses

5,000

5,000

4,600

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 May.

A.$56,400

B.$24,000

C.$61,400

D.$51,400

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