Arturo has budgeted the following total sales: Month Sales January $ 60,000 February $ 80,000 March $ 70,000 April $ 60,000 The company expects 80% of its sales to be on account (credit sales). Credit sales are collected as follows: 30% in the month of sale and 68% in the month following the sale, with the remainder being uncollectible and written off in the month following the sale. The gross profit margin is generally 40%. At the end of the month, Arturo maintains inventory equal to 30% of the following month's expected cost of sales.

Required: Calculate budgeted accounts receivable for the month of February.

Calculate budgeted cash inflows from collection of receivables for February.

Determine the amount of purchases in dollars for March