Information pertaining to Noskey Corporation’s sales revenue follows:

 

		November		December		January
		2009 (Actual)		2009 (Budgeted)		2010 (Budgeted)
Cash Sales		$80,000		$100,000		$60,000
Credit Sales		$240,000		$360,000		$180,000
TOTAL Sales		$320,000		$460,000		$240,000

Management estimates 5 percent of credit sales to be uncollectible. Of collectible credit sales, 60 percent is collected in the month of sale and the remainder in the month following the month of sale. Purchases of inventory each month include 70 percent of the next month’s projected total sales (stated at cost) plus 30% of projected sales for the current month (stated at cost). All inventory purchases are on account; 25 percent are paid in the month of purchase, and the remainder is paid in the month following the month of purchase. Purchase costs are approximately 60 percent of the selling price.

 

Estimated collections in month of sale					60%
Estimated collections in first month following month of sale					40%
Estimated provision for bad debts in month of sale					5%
Inventory purchases as a percent of next month's projected sales					70%
Inventory purchases paid in the month of purchase					25%
Inventory purchases paid in the month after purchase					75%
Purchase costs as a percent of selling price					60%

Required 

Determine for Noskey:

1. Budgeted cash collections in December 2009 from November 2009 credit sales.

2. Budgeted total cash receipts in January 2010.

3. Budgeted total cash payments in December 2009 for inventory purchases.