Diltex Farm Supply is located in a small town in the rural west. Data regarding the store's operations follow: Sales are budgeted at $220,000 for November, $200,000 for December, and $210,000 for January. Collections are the sale, and 3% 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 50% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. Other monthly expenses to be paid in cash are $22,500 Monthly depreciation is $19,000 Ignore taxes. expected to be 70% in the month of sale, 27% in the month following The accounts receivable balance, net of uncollectible accounts, at the end of December would be: $82,000 $113,400 $60,000 $54,000 The cost of December merchandise purchases would be: $133,250 $68,250 $130,000 $143,000