Required informstion TES 824 inc is a retader. 1ts accountants are preparing the company's 2nd quarter master budget. The compary has the following balance sheet as of March 31 C5-824 accountarit have made the following estimates: 1. Sales for Atmi. May, June, and July will be $270,000,$290,000,$280.000, and $300,000, respectively. 2. sales are of creait Each monthis crecit sales are collected 35% in the month of sale and 65% in the month followirg the sale. Aar af the accounts receivabie at March 31 will be collected in Agri. 3 Each rionth's ending imentory must equal 30% of next month's cost of goods sold. The cost of goods sold is 60% of sales- The company aays for 40% of its meichandese purthases in the month of the purchase and the remaining 60% in the month following the purchase All of the accounts payable at March 31 are related to previous meschandise purchoses and will be paid in April 4. Marthily sething and administrative expenses are a.ways $50,000 Fach month $5,000 of this lotat amount is depreciation expense and the remaining $45,000 6 ipent for expenses that are paid in the month they are incurred 5. The compary wit not borrow money or pay or deciare dividends duning the 2 nd quarter. The company will not issue any commetion atock or repurchase its own stock diuning the 2 nd quater. How much is the company's expected cash disbursement for merchandise in the month of April? Multiple Choice $99,360 $66,240 $143,240 $77,000