Renson Corporation, a wholesaler, provided you with the following information:
	Month	Merchandise Purchases	Sales
	January	$142,000	$172,000
	February	148,000	166,000
	March	136,000	165,000
	April	154,000	178,000
	May	160,000	166,000
Renson's expected pattern of cash collections:
	60%	collected in the month of the sale
	30%	collected in the month after the sale
	10%	collected in the second month after the sale
Renson pays all of its invoices in the month following the purchase and takes advantage of all available early payment discounts.
	Available discount for early payment			3%
Remson's expected payments in May for operating expenses				$119,000
Remson's actual cash balance on May 1				$127,000
Required:
A.	Prepare a schedule to compute expected cash collections for the month of May.
B.	Prepare a schedule to compute expected cash payments for the month of May.
C.	Prepare a schedule to the compute expected balance on May 31.