Cash balance, October 1st $ 92,250 Cash sales in October 450,000 Credit sales for the month of: August 300,000 September 225,000 October 375,000 Purchases for the month of: September 337,500 October 300,000 Other expenses in October: Salaries 243,750 Utilities 24,750 75,000 Depreciation 70% of credit sales are collected in the month of sale, 15% in the following month, and 10% in the second month following the sale. 25% of purchases are paid in the month of purchase and the remaining 75% in the following month. 100% of other expenses are paid in the month recorded. Question 33 (2 points)