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Capes Corporation is a wholesaler of industrial goods. Data regarding the store's operations follow

Sales are budgeted at $$270,000$ for November, $$280,000$ for December, and $$260,000$ 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 $75\%$ of sales.

The company desires an ending merchandise inventory equal to $45\%$ of the cost of goods sold in the following month. Payment for merchandise is made in the month following the purchase.

The November beginning balance in the accounts receivable account is $$62,000.$

The November beginning balance in the accounts payable account is $$249,000.$

$015854$

Required:

a$.$ Prepare a Schedule of Expected $C$ Collections for November and December.

b$.$ Prepare a Merchandise Purchases Buds for November and December.

Complete this question by entering your answers in the tabs below.

Required A

Required B

Prepare a Schedule of Expected Cash Collections for November and December.

$\backslash$table$[[$Sales$,$November,December$],[$Schedule of Expected Cash Collections,,$],[$Accounts receivable,,$],[$November sales,,$],[$December sales,,$],[$Total cash collections,,$]]$