Use the following information for questions 15, 16, and 17: Leaverton's forecast of sales is as follows: July $60,000 August 590,000 September $130,000 Sales arc normally 80% cash and 20% credit in any month. Credit sales are collected in full in the following month. Merchandise cost averages 60% of sales price. The company desires an inventory as of September 30^th of S52.000. The inventory as of June 30^th was $25,000. the July 31^st balance of accounts receivable will be $12,000 $18,000 $0 $48,000 Total purchases that must be made in order to meet sales and inventory requirements for the quarter amount to $141,000 $195,000 $307,000 $253,000