Question 32 7 pts Below are the forecasted cash receipts and cash payments for Alexandra Company for the first four months of the year. January February March April Budgeted Cash Collections $120,000 $80,000 $60,000 $200,000 Budgeted Cash Payments: Operating Expenses $110,000 $55,000 $76,000 $130,000 Dividends O 20,000 Equipment Purchase O 40,000 Total Budgeted Cash Payments $110,000 $55,000 $136,000 $130,000 On January 1, Alexandra Company had a cash balance of $8,000. Beginning this year, Alexandra has decided to have a policy of maintaining a cash balance of at least $19,000 at the end of each month. Alexandra plans to pay back loans as soon as possible. So, if Alexandra has surplus cash in any month, that cash will be used to repay any outstanding loans. Also, assume that there is no interest on Alexandra's loans and that Alexandra had no loans outstanding at the beginning of the year. How much cash will be used by Alexandra Company to repay loans in April? $52,000 $19,000 $89,000 $70.000