Statement of financial position

Blitzen Co manufactures and sells a single product. It is preparing its budgets for the three month period ending 31 December 20X5. The budget is virtually complete and the remaining task is to prepare the budgeted statement of financial position as at 31 December 20X5. Sales of the product and purchases of materials are all made on credit terms. There were no purchases or disposals of non-current assets in the period to 31 December 20X5. Entries marked ‘n/a’ are yet to be calculated. The following information is available:

Statement of financial position

30th sept 2015. 31st dec 2015

Assets. $ $. $. $
Non current. 10000. N/a
Assets

Current asset
Raw material 4000. 4500
inventory.

Receivables. 3000. N/a
Cash. 1000. N/a

8000.
18000

Equity and liabilities

Ordinary shareholder. 16000. 19500
Funds

Current liabilities.
Trade payables. 2000. N/a
18000

Budgeted statement of profit or loss 31st dec 2015.

Sales $25000
Direct materials $14000
Direct wages $6000
Depreciation $1500
Net profit/loss =$3500

Cash budget 31st dec 2015

Receipts from customers $23000
Payables;
Materials $12000
Wages $6000
Net cash inflow=$5000

Sir i really have confusion in this question

Question asks What figure should be included in the budgeted statement of financial position as at 31 December 20X5 for each of the following items?

I figured out cash and non current assets figure but i cant figure out receivables and payables figure

For receivables they’ve done it like this

Trade receivables at 30 September
$3,000
Plus credit sales in the 3 months to 31 December
$25,000
Less receipts from customers in the 3 months to 31December
$23,000
Trade receivables at 31 December
$5,000

I dont get it how is it credit sales?

Also why they deducting receipt from customers? We going to receive it, so our receivables should be increasing

For payables they’ve done it like this

Trade payables at 30 September
$2,000
Plus raw materials used in the 3 months to 31 December
$14,000
Plus increase in raw material inventory in the 3 months to 31 December
$500
(4,500 – 4,000)
Less payments for raw materials in the 3 months to 31 December
$12,000
Trade payables at 31 December
$4500

Sir here also they’re deducting payments of 3 months to 31st dec which I can’t understand and as well as adding raw material used I’m really confused here, please could you explain it sir?