$300,000 To be used for Questions 11-13 (Chapter 8-Budgeting): Assume the following Budgeted sales (all on credit) for November, December, and January are $250,000, $220,000, and $200,000, respectively (selling price per unit is $25). Cash collections related to credit sales are expected to be 75% in the month of sale, 25% in the month following the sale. Each month's ending merchandise inventory equals 20% of next month's cost of goods 40% of each month's merchandise purchases are paid in the current month and the .Monthly selling and administrative expenses that are paid in cash in the month incurred . Monthly depreciation expense is $20,000. The cost of goods sold (mechandise) is 65% of sales. sold remainder is paid in the following month. total $20,500. Question 11 5 pts