Information pertaining to Noskey Corporations sales revenue follows:

	November 2018 (Actual)				December 2018 (Budgeted)				January 2019 (Budgeted)
Cash sales	$	150,000			$	142,000			$	88,000
Credit sales		324,000				458,000				236,000
Total sales	$	474,000			$	600,000			$	324,000

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 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.

• Required 1
• Required 2
• Required 3

Required 1 Required 2 Required 3 Budgeted total cash receipts in January 2019. (Do not round intermediate calculations.) NOSKEY CORPORATION Budgeted Total Cash Receipts January 2019 Cash sales in January Collections from credit sales in January: Total collectible from credit sales Percentage to be collected in January % 0 Collections from credit sales in December: Total collectible from credit sales Percentage to be collected in January % 0 Budgeted total cash receipts in January 0 Required 1 Required 2 Required 3 S 0 Budgeted total cash payments in December 2018 for inventory purchases. (Do not round intermediate calculations.) NOSKEY CORPORATION Budgeted Total Cash Payments December 2018 Total inventory purchases in November: For November sales: For December sales: Percentage of November purchases to be paid in December % Payment in December for purchases in November S 0 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 0 Budgeted cash payment in December for inventory purchases S 0 0