Required:

What is the total of budgeted cash collections for December?

How much is the book value of accounts receivable at the end of December?

How much is the income $($loss$)$ before income taxes for December?

What is the projected balance in inventory on December $31,2022?$

What are budgeted purchases of inventory for December?

What is the projected balance in accounts payable on December $31,2022?$

$($For all requirements, Do not round intermediate calculations.$)$

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$\backslash$table$[[,,],[1.,$Budgeted cash collections$-$December,$],[2.,$Net accounts receivable$-$December $31$st$,],[3.,,],[4.,$Budgeted inventory, December $31$st$,],[5.,$Budgeted purchases during December,$],[6.,$Budgeted accounts payable, December $31$st$,]]$

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Goldberg Company is a retail sporting goods store that uses an accrual accounting system. Facts regarding its operations follow:

Sales are budgeted at $$170,000$ for December and $$140,000$ for January, terms $\frac{1}{?}$ eom, $\frac{n}{60}.$

Collections are expected to be $50\%$ in the month of sale and $48\%$ in the month following the sale. Two percent of sales are expected to be uncollectible and recorded in an allowance account at the end of the month of sale. Bad debts expense is included as part of operating expenses.

Gross margin is $30\%$ of gross sales.

All accounts receivable are from credit sales. Bad debts are written off against the allowance account at the end of the month following the month of sale.

Goldberg desires to have $80\%$ of the merchandise for the following month's sales on hand at the end of each month. Payment for merchandise is made in the month following the month of purchase.

Other monthly operating expenses to be paid in cash total $$13,600.$

Annual depreciation $\text{'}$s $$132,000,$ one $-$ welfth of wich is reflected as part of monthly operating expenses.

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snnual depreciation s $$132,00.$ one$-$welfth of wich is reflected as part

Goldberg Company's statement of financial position at the close of business on November $30$ follows: