Clyde,IncHas a Cash Balance of $20,000 on April 1

Clyde,Inc.has a cash balance of $20,000 on April 1.The company is now preparing the cash budget for the second quarter.Budgeted cash collections and payments are as follows:

There are no budgeted capital expenditures or financing transactions during the quarter.Based on the above data,calculate the projected cash balance at the end of April.

A) $46,000
B) $38,500
C) $26,000
D) $42,000