The Volkswagen Group Company is preparing its cash budget for the months of April and May. The firm has established a 200,000 line of credit with its bank at a 12% annual rate of interest on which borrowings for cash deficits must be made in 10,000 increments. There is no outstanding balance on the line of credit loan on April 1. Principal repayments are to be made in any month in which there is a surplus of cash. Interest is Disbursements. 75% of the current month's accounts payable budget and 25% of the previous month's accounts payable budget. ? All other disbursements occur in the month in which they are budgeted.

Budget Information March April May Sales f40,000 f50,000 f100,000 Accounts payable 30,000 40,000 40,000 Payroll 60,000 70,000 50,000 Other disbursements 25,000 30,000 10,000 Q: In April, Raymar's budget will result in *