Webster Corporation is preparing its cash budget for April. The March 31 cash balance is $37,200. Cash receipts are expected to be $649,000 and cash payments for purchases are expected to be $616,500. Other cash expenses expected are $27,800 selling and $34,300 general and administrative. The company desires a minimum cash balance at the end of each month of $38,000. If necessary, the company borrows enough cash to meet the minimum using a short-term note. Webster's preliminary cash balance before loan activity for April is expected to be:

Multiple Choice

• $7,600.
• $30,400.
• $38,000.
• ($29,600).
• $69,700.