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Bentson Corporation, a wholesaler, provided the following information:
Month Purchases Sales
Jan: $142,000 $172,000
Feb: 148,000 166,000
March: 136,000 165,000
April: 154,000 178,000
May: 160,000 166,000
Customers pay 60% of their balances in the month of sale, 30% in the month following sale, and 10% in the second month following sale. The company pays all invoices in the month following purchase and takes advantage of a 3% discount on all amounts due. Cash payments for operating expenses in May will be $119,500; Bentson's cash balance on May 1 was $127,800. Required: Determine the following: A. Expected cash collections during May. B. Expected cash disbursements during May. C. Expected cash balance on May 31.
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