32,550

24,413

77,600

20,675

- Sales are budgeted at $360,000 for November, $340,000 for December, and $330,000 for January. - Collections are expected to be 50% in the month of sale and 50% in the month following the sale. - The cost of goods sold is 85% of sales. - The company would like to maintain ending merchandise inventories equal to 75% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. - Other monthly expenses to be paid in cash are $24,200. - Monthly depreciation is $15,200. - Ignore taxes. The difference between cash receipts and cash disbursements for December would be