Information pertaining to Noskey Corporation's sales revenue follows: Cash sales Credit sales Total sales November 2018 December 2018 (Actual) $110,000 276,000 $ 386,000 (Budgeted) $ 118,000 402,000 $520,000 January 2019 (Budgeted) $ 72,000 204,000 $ 276,000 Management estimates 5% of credit sales to be uncollectible. Of collectible credit sales, 60% is collected in the month of sale and the remainder in the month following the month of sale. Purchases of inventory each month include 70% of the next month's projected total sales (stated at cost) plus 30% of projected sales for the current month (stated at cost). All inventory purchases are on account; 25% is paid in the month of purchase, and the remainder is paid in the month following the month of purchase. Purchase costs are approximately 60% of the selling price. Required: Determine for Noskey: 1. Budgeted cash collections in December 2018 from November 2018 credit sales. 2. Budgeted total cash receipts in January 2019. 3. Budgeted total cash payments in December 2018 for inventory purchases. Complete this question by entering your answers in the tabs below. Required 11 Required 2 Required 3 Budgeted cash collections in December 2018 from November 2018 credit sales. (Do not round intermediate calculations) Budgeted collections in December from November credit sales $ 104,880 Required 1 Required 2 Required 3 Budgeted total cash receipts in January 2019. (Do not round intermediate calculations.) Cash sales in January NOSKEY CORPORATION Budgeted Total Cash Receipts January 2019 Collections from credit sales in January: Total collectible from credit sales Percentage to be collected in January Collections from credit sales in December: Total collectible from credit sales Percentage to be collected in January Budgeted total cash receipts in January % 0 0 < Required 1 Required 3 > Required 1 Required 2 Required 3 Budgeted total cash payments in December 2018 for inventory purchases. (Do not round intermediate NOSKEY CORPORATION Budgeted Total Cash Payments Total inventory purchases in November: For November sales: For December sales: December 2018 Percentage of November purchases to be paid in December Payment in December for purchases in November Budgeted purchases in December: For December sales: For January sales: Percentage of December purchases to be paid in December Payment in December for purchases in December Budgeted cash payment in December for inventory purchases $ 0 % $ 0 $ 0 % 0 0