ABC Company is a retail sporting goods store that uses an accrual accounting system. Facts is operations follow: Sales are budgeted at Rs. 220,000 for December and Rs. 200,000 for January, terms 1/com, n/60. Collections are expected to be 60 percent in the month of sale and 38 percent in the month of following the sale. Two percent of sale are expected to be uncollectable and recorded in an allowance account at the end of the month of sales. Bad debts expense is included as part of expenses. Gross margin is 25 percent of sales. All accounts receivable are from credit sales. Bad debts are written off against the allowance account at the end of the month following the month of sale ABC desires to have 80 percent of the merchandise for the following month's sales on head at the end of the each month. Payment for merchandise is made in the month following the month of purchase. Other monthly operating expenses to be paid in cash total Rs. 22, 600. Annual depreciation is Rs. 216,000, one - twelfth of which is reflected as part of monthly operating expense. ABC Company's statement of financial position at the close of business on November 30 follows. What is the total of budgeted cash collections for December? How much is the book value of accounts receivable at the end of December? How much is the income (loss) before income taxes for December? What is the projected balance in inventory on December 31, 2010? What are budgeted purchase for December? What is the projected balance in accounts payable on December 31, 2010