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ABC Inc. sales in December were $220,000, the company budgeted sales revenues to increase by...

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Accounting

ABC Inc. sales in December were $220,000, the company budgeted sales revenues to increase by 15% every month.
Cash sales are 30%& Credit sales are 70%. Past experience indicates that 60% of the credit sales will be collected in the month of sale and the remaining 39% will be collected in the following month, and 1% is uncollectible.
ABC maintains inventory of 20% of the CGS for the following month. CGS equal 50% of sales Revenue. Purchases of inventory are all on credit and 60% is paid in the month of purchase and 20% in the month following purchase, and 20%2 months after the purchase.
Expenses of the company:
Rent expense is $5,500 a month paid as incurred.
Salaries expense $12,000 a month paid 50% same month and 50% following month.
Utility expense $700 a month paid following month.
Sales commission expense is 10% of sales paid same month.
Insurance expense $600 a month paid at the beginning of the quarter.
Depreciation expenses is $24,000 for the year.
Maintenance expense is 5% of sales.
Sales Budget
\table[[,Jan,Feb,March,Total],[Sales Revenue,253,000,290,950,334,592.5,878,542.5
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