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The following information concerns Montero Corp.  Collections from Montero Corp.’s customers are normally 70% in the month of sale, and 20% and 9%, respectively, in the 2 months following the sale. The balance is uncollectible. Montero takes full advantage of the 2% discount allowed on purchases paid for by the 10th of the following month. Purchases for May are budgeted at $60,000, and sales for May are forecasted at $66, Cash disbursements for expenses are expected to be $14,400 for the month of May. Montero’s cash balance at May 1 was $22000,What was Montero’s cash balance on April 1, assuming cash disbursements for expenses increased 20% from April to May? What was Montero’s cash balance on April 1, assuming cash disbursements for expenses increased 20% from April to May?A. $72,540 B. $22,000 C. $(3,260) D. $(2,540) |