Assessilieril 5 201505SIUI 12 (2) References Mailings Review View Tell me what you want to do 1. Futurist Enterprises has the following business transaction estimates relating to the first quarter of 2020. JANUARY FEBRUARY MARCH 236200 33500 calculate 50700 17950 240000 37000 calculate 65000 0 Credit Sales 235600 Cash Sales 33000 Receipts from Accounts Receivable 1. calculate Wages 50700 Office Furniture 16050 Prepayments Administrative Expense 16500 Depreciation on Office Furniture 3300 Receipt of Loan Interest Received 3510 Credit Purchases 140000 Payments of Accounts Payable 2. calculate Accrued Expenses 8880 16500 3500 16500 3500 420000 8305 142000 calculate 9430 142800 calculate 7800 Notes 1.Receipts from Accounts Receivable are calculated as 80% in the month following the Credit Sales with the balance of 20% in the second month following the Credit Sales. Credit Sales for December 2019 were $230,000 as they were in November 2019. Cash Sales were $28,000 in November 2019 and $31,500 in December of 2019. 2.Payment of Accounts Payable is paid 75% of purchases in the month of purchase and the remaining 25% in the month following. Credit purchases in December 2019 were $130,500. 3 The cash balance at 1 January 2020 was $68,020. O Focus tralia)