Information pertaining to Collection Corporation's sales revenue is presented below. November December January Cash sales $ 115,000 $ 144,000 $ 97,000 Credit sales 307,000 469,000 253,000 Total sales $ 422,000 $ 613,000 $ 350,000 Management estimates that 5% of credin sales are eventually uncollectible of the collectible credit sales, 60% are likely to be collected in the month of sale and the remainder in the month following the month of sale. The company desires to begin each month with an inventory equal to Box of the sales projected for the month All purchases of inventory are on open account , 20% will be paid in the month of purchase, and the remainder paid in the month following the month of purchase. Purchase costs are approximately 55% of the selling prices, Budgeted cash payments in December for November inventory purchases by Collection Corporation are O $78,916 O $94,842. O $126,600 $162,470. $221,298