Question A. ABC provided the following information relevant to its sales for December 2019 and the first two months of 2020: Dec. 2019 Jan. 2020 Feb. 2020 (Actual) (Budgeted) (Budgeted) Credit sales $64,000 $144,000 $159,000 Cash sales $14,000 $29,000 $34,000 Based on the company's collection history, 60% of credit sales are collected in month of sale, and the remainder is collected in the following month. ABC has a line of credit liability account with its bank. The interest rate of this account is 1% per month. In order to maintain its operations, ABC borrowed from the bank in 2019. On December 31, 2019, ABC's line of credit balance was $20,000 and its cash balance was $10,500. ABC's budgeted cash payments for January 2020 are $130,000. The company desires to maintain a monthly cash ending balance of $10,000. Required (put your answers to ALL parts in the provided box below): 1. (5 points) Calculate ABC's budgeted cash collections for January 2020. Show your work. 2. (10 points) Prepare ABC's cash budget for January 2020. Show your work. 3. (5 points) Calculate ABC's budgeted accounts receivable balance at the end of February 2020. Show your work. 4. (5 points) Calculate ABC's budgeted interest expense in February 2020. Show your work