Moving to the next question prevents changes to this answer. Question 13 Cedar Falls Farm Supply is located in a small town in the rural west. Data regarding the store's operations follow Sales are budgeted at $293,000 for November, $313,000 for December, and $213,000 for January. Collections are expected to be 65% in the month of sale and 35% in the month following the sale. The cost of goods sold is 80% of sales. Question 13 of 40 3.75 points Save Answe The company desires to have an ending merchandise inventory at the end of each month equal to 70% 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 $21,400. Monthly depreciation is $22,500. Ignore taxes Assets Cash Accounts receivable Merchandise inventory Balance Sheet October 11 Property, plant and equipment, net of $624,000 accumulated depreciation Total amets Liabilities and Stockholders' Equity Accounts payable Comm k Retained wings Tinal liabilities and skholder paty The difference betwem cash receipts and cash disbursements for December would be $26,500 78.500 164,00 $1276080 239,000 4000 $1,276,00 Assets Cash Balance Sheet October 31 $ 26,500 78,500 164,080 Accounts receivable Merchandise inventory Property, plant and equipment, net of $624,000 accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity The difference between cash receipts and cash disbursements for December would be: $43,300 $18,300 $12,500 $39,000 1,007,000 $1,276,080 $ 239,000 743,000 294,080 $1,276,080