Corporation's operational data are below: - Sales are budgeted at $260,000 for November, $353,000 for December, and $210,000 for January. All sales are credit sales. - Collections are expected to be 80% in the month of sale, 19% in the month following the sale, and 1% uncollectible. -The cost of goods sold is 65% of sales. - The company desires to have an ending merchandise inventory at the end of each month equal to 60% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. Q) December cash disbursements for merchandise purchases would be: A) $