QUESTIONS 15 THROUGH 18 ARE BASED ON THE FOLLOWING DATA OF WOODS COMPANY Woods Company is preparing its cash budget for the month of May. On May 1, Woods has a $20,000 balance in its only cash account Credit Purchase Sales or account March - actual 90,000 35,000 April - actual 100,000 25,000 May budgeted ...120,000 50,000 Prior experience has indicated that 50% of a month's sales are collected in the month of sale, 40% in the month following sale, and the remaining 10% in the second month following sale. Woods pays 40% of a month's purchases in the month of purchase and the remaining 60% in the month following purchase. Selling and administrative expenses budgeted for the May total $50,000 including depreciation expense of $10,000. Woods plans to purchase a new delivery truck costing $25,000 in May. The company also plans to pay quarterly cash dividends totaling $15,000 during the month. 15. What is the amount of the estimated disbursements for purchases on account that can be estpected during May? A $36,050 B. $40,000 c. $35,000 D. $115,000 16. What is the amount of total cash disbursements for May A $25,000 B. $40,000 C $15,000 D. $115,000 17. What is the amount of expected cash balance at May 317 A $20,000 B. $18,000 c. $14,000 D. $10,000