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A manufacturer forecasts the following for the month (in $): 200,000 cash collections from customers 120,000...

A manufacturer forecasts the following for the month (in $):

200,000 cash collections from customers

120,000 payment to suppliers

50,000 payment to employees

20,000 depreciation on production equipment

Further, the company has a $100,000 note payable at 6% annual interest rate.

The company pays interest on a monthly basis.

Assume the beginning cash balance for the month is $40,000. What is the projected ending balance for cash?

a. 49,500

b. 50,000

c. 69,500

d. 70,000

e. none of the above

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