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The following information pertains to Monroe Company: Month Sales Purchases January $62,000 $33,000 February $84,000 $42,000 March $101,000 $61,000 Cash is collected from customers in

The following information pertains to Monroe Company:

Month Sales Purchases
January $62,000 $33,000
February $84,000 $42,000
March $101,000 $61,000

Cash is collected from customers in the following manner: Month of the sale: 45%, with the remainder the month after.

60% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month.

Labor costs are 25% of sales. Other operating costs are $38,000 per month (including $10,000 of depreciation). Both of these are paid in the month incurred.

The cash balance on March 1 is $8,000. A minimum cash balance of $6,000 is required at the end of the month. Money can be borrowed in multiples of $1,000. How much cash will be paid to suppliers in March?

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