Information pertaining to Noskey Corporation's sales revenue is presented below

Management estimates that 5% of credit sales are uncollectible. Of the credit sales that are collectible, 60% are collected in the month of sale and the remainder in the month follow¬
ing the sale. Purchases of inventory each month are 70% of the next month's projected to¬
tal sales. All purchases of inventory are on account; 25% are paid in the month of purchase, and the remainder are paid in the month following the purchase.
Required:
1. What are Noskey's budgeted cash collections in December 2000 from November 2000 credit sales?
2. What are total budgeted cash receipts in January 2001?
3. What is Noskey budgeting for total cash payments in December 2000 for inventory pur¬
chases? (CMA adapted)

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November 2000 (Actual) December January 2000 2001 (Budget) (Budget) Cash sales Credit sales $ 80,000 $100,000 $ 60,000 240,000 360,000 180,000 Total sales $320,000 $460,000 $240,000