Use the following information to answer questions 15 and 16: Total Recall Company's operational data are below: - Sales are budgeted at $260,000 for November, $240,000 for December, and $210,000 for January. All sales are credit sales. - Collections are expected to be 80% in the month of sale, 19% in the month following the sale, and 1% uncollectible. - The cost of goods sold is 65% of sales. - The company desires to have an ending merchandise inventory at the end of each month equal to 60% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. - Other monthly expenses to be paid in cash are $20,300. - Monthly depreciation is $20,000. - Ignore taxes. #15. December cash disbursements for merchandise purchases would be (choose the closest answer): Dec NOU af $141,700 260 lo b) $149,500 c) $157,300 $161,200 e) $218,000 # 16. Accounts payable at the end of December would be (choose the closest answer): a) $81,900 b) $141,700 c) $144,300 d) $149,500 e) $218,000