Duffy Corp. has provided a part of its budget for the second quarter:...
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Duffy Corp. has provided a part of its budget for the second quarter: Apr May Jun Cash collections $40,000 $42,000 $43,000 Cash payments: Purchases of direct materials 5,000 4,500 5,000 Operating expenses 7,000 6,000 7,000 Capital expenditures 4,000 10,000 4,000 The cash balance on April 1 is $13,000. Assume that there will be no financing transactions or costs during the quarter. Calculate the projected cash balance at the end of April. O A. $58,500 O B. $85,500 OC. $53,000 OD. $37,000
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