The capital expenditures budget. the selling and administrative expenses budget cash receipts from customers. Nobel Inc. has a cash balance of $20,000 on April 1, 2015 They are now preparing the cash budget for the second quarter. Budgeted cash collections and payments are as follows. There are no budgeted capital expenditures or financing transactions during the quarter. Based on the above data, calculate the projected cash balance at the end of May. $21, 900 $23, 700 $22,000 $46, 100