Sales are 60% cash and 40% credit. Credit sales are collected 30% in the month of sale and the remainder in the month after sale. Actual sales in December were $52,000. Schedules of budgeted sales for the two months of the upcoming year are as follows a. January February Budgeted Sales Revenue $61,000 $68,000 Actual purchases of direct materials in December were $25,500. The company's purchases of direct materials in January are budgeted to be $23,000 and $28,000 in February. All purchases are paid 25% in the month of purchase and 75% the following month. Salaries and sales commissions are also paid half in the month earned and half the next month. Actual salaries were $9,500 in December. Budgeted salaries in January are $10,500 and February budgeted salaries are $12,000. Sales commissions each month are 10% of that month's sales Rent expense is $3,300 per month. Depreciation is $2,600 per month Estimated income tax payments are made at the end of January. The estimated tax payment is projected to be $14,000 The cash balance at the end of the prior year was $22,000 b. c. d. e. f. g