1. Oakton Furniture provided the following information relevant to its sales for December 2013 and the first quarter of 2014

Based on the company's collection history, 2% of credit sales are uncollectible, 40% are collected in month of sale and the remainder is collected in the following month. Total budgeted cash receipts in February 2014 are expected to be:

$60,000.$346,400.$162,400.$228,000.

2. Browning Company's sales budget shows the following expected total sales:

Month	Sales
January	$20,000
February	$35,000
March	$40,000
April	$45,000

The company expects 70% of its sales to be on account (credit sales). Credit sales are collected as follows: 25% in the month of sale, 69% in the month following the sale with the remainder being uncollectible and written off. The total cash inflows from sales in April would be:

$30,725. $28,200. $40,695. $23,625.

3. Chu Company provided the following information related to its inventory sales and purchases for December 2013 and the first quarter of 2014: Desired ending inventory levels are 25% of the following month's projected cost of goods sold. Budgeted purchases of inventory in February 2014 would be: $165,000. $225,000. $135,000. $180,000.