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Information pertaining to ABC Company's sales revenues is as follows: Information pertaining to ABC Company's sales revenues is as follows: October November December Cash sales

Information pertaining to ABC Company's sales revenues is as follows:

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Information pertaining to ABC Company's sales revenues is as follows: October November December Cash sales 95 96,000 $ 120,000 $ 72,000 Credit sales 288,000 432,000 216,000 Total sales 384 000 552 000 283 000 Of the credit sales, 60% are collected in the month of sale and the remainder in the month following sale. Purchases of inventory are equal to next month's sales, and gross margin is 30%. All purchases of inventory are on credit. 25% are paid in the month of purchase, and the remainder are paid in the month following purchase. Montth operating expenses Salaries $ 54,000 Amortization $ 6,000 Rent $ 9,000 Utilities $ 2,400 Other $ 7,200 Commissions 5% of prior month sales November 1, beginning cash balance $12,600.00 Required: Compute budgeted cash receipts for the month of November. Compute accounts receivable balance as at November 31. Compute budgeted cash disbursement for purchases for the month of November. Compute accounts payable balance as at November 30. Compute the cash budget for the month of November

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