comT MESECI OD Due in 16 hours, 39 minutes. Due Mon 07/15/2019 5:00 pm Atlas Company is trying to prepare a cash disbursements budget for the 1st quarter of next year. They report the following information for sales and purchases of merchandise: Sales Purchases January February March $44,000 $46,000 $42,000 16,600 17,800 16,800 They also provided the following additional information: 1. Payments for purchases of merchandise are made in the month after the purchase. December purchases were $17.000 2. Selling expenses are 14% of sales. 3. Administrative expenses include annual salaries of $78,000, monthly rent expense of $1,300, and monthly depreciation expense of $900. 4. Selling and administrative expenses are paid in the month incurred. Prepare a schedule of cash disbursements budgeted for the first quarter. Round all answers to the nearest whole dollar Atlas Company Cash Disbursements Budget For the Quarter Ended March 31 January February March Payments for merchandise Selling Expense Administrative salaries Rent expense Total Cash Disbursements Points possible: 15 Unlimited attempts