s-41 Cash and payments, multiple choice. (CMA) Read Appendix SA. Information pertaining to Noskey Corporation's sales revenue is presented in the following table NOVEMBER DECEMBER JANUARY 19.5 (BUDGET) 19.5 19.5 (ACTUAL)(BUDGET) Cash sales 80,000 100,000 Credit sales 240,000360,000 Total sales 320,000 420,000 60,000 $240,000 Management estimates that5% of credit sales are uncollectible. Of the credit sales that are collectible 60% are collected in the month of sale and the reminder in the month following the sale. Purchases of inventory each month are 70% of the next month's projected total sales. All purchases of inventory are on account; 25% are paid in the moth of purchase, and the remainder are paid in the month following the purchase 1. Noskey's budgeted cash collections in December 19_5 from November 195 credit sales are (a) $144,000, (b) $136,800, (c) $96,000, (d) $91,200, (e) none of these Required 2. Noskey's budgeted total cash receipts in January 19 6 are (a) $240,000, (b) 294,000, (c) $299,400, (d) $239,400, (e) none of these 3. Noskey's budgeted total cash payments in December 19 5 for inventony purchases are (a) $405,000, (b) $283,500, (c) $240,000, (d) $168,000, (e) none of these