create a table showing the merchandise purchases budget and the cash budget, what are the accounts payable for the month of december (step by step)

Dilly Farm Supply is located in a small town in the rural west. Data regarding the store's operations follow: Sales are budgeted at $290,000 for November, $310,000 for December, and $210,000 for January. Collections are expected to be 65% in the month of sale, 33% in the month following the sale, and 2% uncollectible. The cost of goods sold is 80% of sales. The company purchases 70% of its merchandise in the month prior to the month of sale and 30% in the month of sale. Payment for merchandise is made in the month following the purchase. Other monthly expenses to be paid in cash are $21,100. Monthly depreciation is $21,000. Ignore taxes. $ 25,000 Statement of Financial Position October 31 Assets: Cash.. Accounts receivable (net of allowance for uncollectible accounts).. ........... Inventory Property, plant and equipment (net of $624,000 accumulated depreciation.......... Total assets. 77,000 162,400 1,026,000 $1.290.400 Liabilities and Stockholders' Equity: Accounts payable. Common stock ... Retained earnings. Total liabilities and stockholders' equity ....... $ 239,000 740,000 311,400 $1,290,400