Reference no: EM13182341
Cyclone Inc. is a wholesaler of mattresses that began business on January 1. The company's sales policy requires 40% payment in the month of sale, 30% the next month, and 30% due the third month. Purchases will be paid 60% in the month of purchase and 40% in the following month. Cyclone expects to begin operations in January with $5,000 in cash. Cyclone's expected transactions from January to May are as follows:
JanuaryFebruaryMarchAprilMay
Sales$ 50,000$ 60,000$ 30,000$ 100,000$ 65,000
Purchases 20,00015,0007,50040,00025,000
-The budgeted available cash balance for February is
-Budgeted cash collections for April are
-Cyclone anticipates borrowing $ 25,000 in May and paying for a piece of equipment costing $ 7,600. Given these expectations, what is May's budgeted ending cash balance?
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