Information pertaining to Noskey Corporations sales revenue follows:

November 2021 (Actual)December 2021 (Budgeted)January 2022 (Budgeted)Cash sales$ 80,000$ 100,000$ 60,000Credit sales240,000360,000180,000Total sales$ 320,000$ 460,000$ 240,000

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 2021 from November 2021 credit sales.

2. Budgeted total cash receipts in January 2022.

3. Budgeted total cash payments in December 2021 for inventory purchases.

Budgeted total cash receipts in January 2022. Budgeted total cash payments in December 2021 for inventory purchases