Reference no: EM133048829

Question - The Box Store has a beginning cash balance of $2,545 on March 1. February sales were $7,200 and projected sales are $7,920 for March and $9,800 for April. The cost of goods sold is equal to 55 percent of sales with goods being purchased one month prior to the month of sale. The accounts payable period is 45 days and the accounts receivable period is 20 days. The firm has monthly cash expenses of $2,930. What is the projected ending cash balance at the end of March? Assume every month has 30 days.