Data for Budget Budgeted Sales December (Actual) January February March April $75,000 $55,000 $80,000 $35,000 $60,000 Budgeted Expenses Wages and Salaries Freight-out Advertising Depreciation ither Expenses $5,000 5% $3,500 $2,000 1.50% Other Data Minimum Inventory % of Next Month's COGS Ending Inventory for Dec. Sales Mix. Cash Credit Note: Credit sales collected in the following month COGS Inventory Paid: Current Month Month After Purchase Dec. Accounts Payable Dec. Cash Balance Minimum Cash Balance 40% $20,000 10% 90% 60% 50% 50% $3,000 $11,500 $10,000 complete the journey entry