Assume a company is preparing a budget for its first two months of operations. During the first and second months it expects cash sales of $26,500 and $43,000, respectively. It also expects credit sales of $53,000 and $63,000, respectively. The company expects to collect 35% of its credit sales in the month of the sale, 55% in the following month, and 10% is deemed uncollectible. What amount of cash collections would appear in the company's cash budget for the first month? Multiple Choice $45.050 O $18.550 $61,550 O o $43,000 Assume a merchandising company's estimated sales for January, February, and March are $102,000, $122,000, and $112,000, respectively. Its cost of goods sold is always 35% of its sales. The company always maintains ending merchandise inventory equal to 20% of next month's cost of goods sold. It pays for 25% of its merchandise purchases in the month of the purchase and the remaining 75% in the subsequent month. What are the cash disbursements for merchandise purchases that would appear in the company's cash budget for February? Multiple Choice $40,325 $41,325 $38,325 O O O $35,325 Assume a merchandising company's estimated sales for January, February, and March are $112,000, $132,000, and $122,000, respectively. Its cost of goods sold is always 60% of its sales. The company always maintains ending merchandise inventory equal to 30% of next month's cost of goods sold. It pays for 20% of its merchandise purchases in the month of the purchase and the remaining 80% in the subsequent month. What is the accounts payable balance at the end of February? Multiple Choice $56,640 $15,480 O O O o $57,760 $61.920