Exercise 10-10 The Dynatech Antique Mall budgeted credit sales in the first quarter of 2018 to be as follows anuary $164,000 February 174,000 March 187,000 Credit sales in December 2017 are expected to be $226,000. The company expects to collect 90 percent of a month's sales in the montb of sale and 10 percent in the following month Estimate cash receipts for each month of the first quarter of 2018. Collection of credit sales Collection of December sales Collection of Jaruary sales Collection of February sales Collection of March saies The HSS Antique Mall expects to make purchases in the first quarter of 2018 as follows anuary $87,300 February 99,000 March81,000 Purchases in December 2017 are expected to be $90,000. The company expects that 60 percent of a month's purchases will be paid in the month of purchase and 40 percent wil be paid in the folowing month Estimate cash disbursements related to purchases for each month of the first quarter of 2018 Payment of December purchasess Payment of January purchases Payment of February purchases Payment of Harch purchases