The master budget is a network consisting of many separate budgets that are interdependent.

True

False

.

Shown below is the sales forecast for Cooper Inc. for the first four months of the coming year.

	Jan	Feb	Mar	Apr
Cash Sales	$ 15,000	$ 24,000	$ 18,000	$ 14,000
Credit Sales	$ 100,000	$ 120,000	$ 90,000	$ 70,000

On average, 50% of credit sales are paid for in the month of the sale, 30% in the month following sale, and the remainder are paid two months after the month of the sale. Assuming there are no bad debts, the expected cash inflow in March is:

$138,000

$122,000

$119,000

$108,000