Given the following information, budgeted cash receipts in February are January February March April Sales $130,000 120,000 135,000 140,000 Purchases Expenses $88,000 $25,000 76,000 25,200 91,250 28,000 94,500 29,600 Sales are collected 50% in the month of sale, 25% in the month following sale, and 24% in the second month following sale. One percent of sales is uncollectible and expensed at the end of the year. All purchases are paid for in the month following purchase and take advantage of a 2% discount. The following balances are as of January 1: Cash $ 98,000 68,000 Accounts receivable' Accounts payable 82,000 * of this balance, $34,000 will be collected in January and the remaining amount will be collected in February. The monthly expense figures include $6,000 of depreciation. The expenses are paid in the month incurred. Given the following information, budgeted cash receipts in February are January February March April Sales $130,000 120,000 135,000 140,000 Purchases Expenses $88,000 $25,000 76,000 25,200 91,250 28,000 94,500 29,600 Sales are collected 50% in the month of sale, 25% in the month following sale, and 24% in the second month following sale. One percent of sales is uncollectible and expensed at the end of the year. All purchases are paid for in the month following purchase and take advantage of a 2% discount. The following balances are as of January 1: Cash $ 98,000 68,000 Accounts receivable' Accounts payable 82,000 * of this balance, $34,000 will be collected in January and the remaining amount will be collected in February. The monthly expense figures include $6,000 of depreciation. The expenses are paid in the month incurred