January February Inventory purchases budget in 12,000 15,000 units Each unit costs $5. ABC pays 20% in the month of purchase and 80% in the month following the purchase. Accounts payable at December 31 = $25,000 How much cash will be disbursed for inventory purchases in February ? Select one: O $27,000 $63,000 O $88,000 O $48,000ABC company has budgeted the following sales. January February Sales (on Income statement) $100,000 $200,000 Sales are 0% credit and 100% cash A/R at Dec 31 = $0 ( because ABC sells for cash only) What are the cash collections for January and February? Select one: $300,000 for January and $0 for February $100,000 for January and $200,000 for February none of the answers is correct $0 for January and $300,000 for February