. Expected sales for the first four months are: June............. $10,000 July................. $16,000 August............. $24,000 September......... $25,000 The company's cost of goods sold is 60% of sales. The company desires that the merchandise inventory on hand at the end of each month be equal to 50% of the next month's cost of goods sold. All purchases of merchandise inventory must be paid in the month of purchase. 60% of all sales are for cash; the balance is on credit. 75% of the credit sales are collected in the month following the month of sale, with the balance collected in the following month. Variable operating expenses are 10% of sales revenue, and fixed operating expenses (all depreciation) are $3,000 per month. Cash payments for the variable operating expenses are made during the month the expenses are incurred. The total cash disbursements for August would be: $20,100 $13.900 O $16,900 $17.100