PART II TCH PAPER COMPUTATIONS AT THE CONCLUSION OF THE EXAM THROUGH EMAIL. Florida Company has the following sales forecast for the selected three-month period in the current year Month Sales $ 22,000 April May June 17,000 18,000 Collection pattern: 65% of sales are collected in the month of the sale 35% is collected in the following month. Accounts Receivable balance (April 1): $15,000 Cash balance (April 1): $8,000 Minimum cash balance is $10,000. Cash can be borrowed in $100 increments from the local bank (assume no interest charges). REQUIRED: Calculate the expected amount Florida Company will need to borrow from the bank at the end of April in order to maintain its minimum cash balance. Assume that cash is received only from customers and that $29,000 is paid out during April