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Information pertaining to Noskey Corporations sales revenue follows: November 2015 (Actual) December 2015 (Budgeted) January 2016 (Budgeted) Cash sales $ 155,000 $ 145,000 $ 90,000

Information pertaining to Noskey Corporations sales revenue follows:

November 2015 (Actual) December 2015 (Budgeted)

January 2016 (Budgeted)

Cash sales $ 155,000 $ 145,000 $ 90,000
Credit sales 330,000 465,000 240,000
Total sales $ 485,000 $ 610,000 $ 330,000

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 months 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 2015 from November 2015 credit sales. (Do not round intermediate calculations.)

2.

Budgeted total cash receipts in January 2016. (Do not round intermediate calculations.)

3.

Budgeted total cash payments in December 2015 for inventory purchases. (Do not round intermediate calculations.)

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