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View Policies Current Attempt in Progress Sheridan Corporation is projecting a cash balance of $33,000 in its December 31, 2021, balance sheet. Sheridan's schedule of

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View Policies Current Attempt in Progress Sheridan Corporation is projecting a cash balance of $33,000 in its December 31, 2021, balance sheet. Sheridan's schedule of expected collections from customers for the first quarter of 2022 shows total collections of $182,000. The schedufe of expected payments for direct materials for the first quarter of 2022 shows total payments of $42,000.0 ther information gathered for the first quarter of 2022 is as follows: sale of equipment $5,000; direct labour $72,000, manufacturing overhead $37,000 : selling and administrative expenses $46,000; and purchase of securities $15,000. Sheridan wants to maintain a balance of at least $22,000 cash at the end of each quarter

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