Current Attempt in Progress Bonita State sells electronic products, The controller is responsible for pecparing the master budget and las accumulated the information below for the months of January. February, and March. Balances at January 1 are expected to be as follows: The budget is to be based on the following assumptions: 1. Each month's sales are bilied on the last day of the month. 2. Customers are allowed a 3% discount if their payment is made within 10 days after the billing date. Receivables are booked ot gross. 3. The company collects 60% of the billings within the discount period, 25% by the end of the month after the date of sale, and 9\%iby the end of the second month atter the date of sale; 6% prove uncollectible. 4. It pays 54% of all materials purchases and the selling general, and administrative expenses in the month purchused and the Question 10 of 12 16 The budget is to be based on the following assumptions: 1. Each month's sales are billed on the last day of the month 2. Customers are allowed a 3% discount if their payment is made within 10 days after the billing date. Receivables are booked at gross. 3. The company collects 60% of the billings within the discount period, 25%, by the end of the month after the date of salv, and 9\% by the end of the second monthiafter the date of sale; 6% prove uncollectible. 4. It pays 54% of all materials purchases and the selling iteneral, and administrative expenses in the month purchased and the remainder in the following month. Each month's units of ending inventory are epual to 130 s of the next month's units of sales: 5. The cost of each unit of imentory is $20, 6. Selling , 50neral, and administrative expenses, of which $2.100 is for depreclation, are equal to 15% of the current month's sales. 7. Actual and projected sales are as follows: \begin{tabular}{|lrr|} \hline Month & Sales & Units \\ \hline November & $366,000 & 12,200 \\ December & 375,000 & 12,500 \end{tabular} Question 10 of 12 (a) Calculate the budgeted cash disbursements during the month of February