Assume a merchandising company's estimated sales for January, February, and March are $120,000, $140,000, and $130,000, respectively Its cost of goods sold is always 55% of its sales. The company always maintains ending merchandise inventory equal to 30% of next month's cost of goods sold. It pays for 30% of its merchandise purchases in the month of the purchase and the remaining 70% 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 $71,115 $74,115 $68,115 D Muluple Choice $71,315 $74,315 $73,395 Jay