Montero Corporation. a merchandising company. has provided the following budget data: 24mm m am am 5...... __i Collections from customers are normally T% in the month of sale. mat. in the month following the sale. and 9% in the second month following the sale. The balance is expected to be u11col|ectible. Montero pays for purchases in the month following the purchase. Cash disbursements. for expenses other than merchandise purchases are expected to be $14.41\"! for May. Montero's cash balance on May I was EELUDU. Required: a) Compute the expected cash collections during May. b] Compute the expected cash balance on Ma},f 3 l