Information pertaining to Noskey Corporation's sales revenue follows November December January 2015 2016 2015 (Actual) (Budgeted) (Budgeted) $135,000 $133,000 $ 82,000 Cash sales Credit sales 306,000 437,000 224,000 Total sales $441,000 $570,000 $ 306,000 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 2015 from November 2015 credit sales. (Do not round intermediate calculations.) Budgeted collections in December from November credit sales 2. Budgeted total cash receipts in January 2016. (Do not round intermediate calculations.) Cash sales in January 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