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

Verle,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 May.

A) $24,000
B) $59,700
C) $53,900
D) $48,900