Question 3 Compton Company expects the following total sales: MonthMarchAprilMayJuneSales$27,000$17,000$27,000$22,000 The company expects 60% of its sales to be credit sales and 40% for cash. Credit sales are collected as follows: 30% in the month of sale, 70% in the month following the sale. The budgeted accounts receivable balance on May 31 is: Answers: $12,775 ! $11,340. $19,740. $20,250. Question 4 Sales for January are budgeted at 50,000 units, and the company expects sales to increase 4% each month. How many units will need to be purchased in February if the company's policy is to keep ending inventory each month at 10,000 units? Answers: 52,000units54,000units62,000units Question 5 Sentra Sporting Company sells tennis rackets and other sporting equipment. The purchasing department manager prepared the inventory purchases budget. Sentra's policy is to maintain an ending inventory balance equal to 15% of the following month's cost of goods sold. January's budgeted cost of goods sold is $70,000. What would be the required purchases (on account) for December? Answers: $47,000 $50,000 ***\$53,000 $60,500