Previous Page Next Page Page 1o UI 25 Question 16 (4 points) The cash balance on March 1 is $328 for your firm. Sales for February through April are estimated as $723, $844, and $980, respectively. Goods are purchased one month before the month of sale and the cost of goods sold is calculated at 54 percent of sales. Your accounts payable period is 45 days, accounts receivable period is 20 days, and monthly cash expenses are $265. If every month has 30 days, estimate the cash balance at the end of March. OA) $407 OB) $372 OC) $403 OD) $418 E) $342