Carter Lumber sels Leber and general building supplies to bulding contracts nmedumsized town in Montane. Data regard g the stom, operaens foaw o Sales are budgeted at $338.000 for November $348,000 for December, and $358,000 for January. ocolection ssreg ected tobe 7 % in the moren of sale 27% in the month folowing the sale, 8 d 3%ueolectitle. The cost of goods sold is 80% of sales. o The o Other monthly expenses to be paid in cesh ere $32,550 e Monthly depreciation is $21,300 o Ignore taxes tefok ing month's cost o goods sold. Payment for merchandise is made in the month folowing the purchase. desi es to have an ending merchandise inventory equal to 80% o Accounts recelvable, net of allowence for uncollecsible accounts Inventory Property,plant and equipment, net of $550,000 accumulated depreciation s 22,100 8,600 240,500 1100,000 $1,441,200 Liabilities and Stockholders Equty Accounts peyable 246,000 80,000 45,200 $1.441,200 Retained eanings otal lablisies and stockholders equity The accounts receivable balance, net of uncollectible accounts, at the end of December would be $77.360 O $196.560 O $93.960 O $105.660 11