Question 8 The following information pertains to the January operating budget for Casey Corporation. Budgeted sales for January $205,000 and February $110,000 Collections for sales are 60% in the month of sale and 40% the next month. Gross margin is 35% of sales Administrative costs are $14,000 each month. Beginning accounts receivable is $30,000. Beginning inventory is $14,000. Beginning accounts payable is $73,000. (All from inventory purchases.) Purchases are paid in full the following month. Desired ending inventory is 30% of next month's cost of goods sold (COGS). At the end of January, budgeted accounts receivable is. O $44,000 $159,000 $82,000 $123,000