Cole company paid weekly payroll on jan 2 by debiting wages expense for $40k. the accountant preparing the payroll entry overlooked the fact that wages expense of $24k had been accrued at year end on dec 31. the correcting entry is

Wallace company provides the following data for next year: month budgeted sales january $120,000 february 108,000 march 140,000 april 147,000 the gross profit rate is 35% of sales. inventory at the end of december is $29,600 and target ending inventory levels are 10% of next month's sales, stated at cost. what is the amount of purchases budgeted for january?