3.000 8.000 Oneida Company's operations began in August August sales were $160,000 and purchases were $100,000 The beginning cash balance for september is $34.500 Oneida's owner approaches the bank for a $108,000 loan to be made on September 2 and repaid on November 30. The bank's loan officer asks the owner to prepare monthly cash budgets Its budgeted sales, merchandise purchases, and cash payments for other expenses for the next three months follow. Budgeted September October November Soles $ 210,000 $475,000 $ 450,000 Merchandise purchases 240,000 225,000 193,000 Cash payments Salaries 31,480 31,400 31,400 Rent 8,000 Insurance 5,200 5,200 5,200 Repayment of loan 108,600 Interest on loon 1,050 1,080 1,080 All sales are on credit where 75% of credit sales are collected in the month following the sale, and the remaining 25% collected in the second month following the sale All merchandise is purchased on credit, 85% of the balance is paid in the month following a purchase, and the remaining 15% is paid in the second month Required: Prepare the following for the months of September October, and November, 1. Schedule of cash receipts from sales 2. Schedule of cash payments for direct materials 3. Cosh budget Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the schedule of cash receipts from sales ONEIDA COMPANY Schedule of Cash Receipts from Sales September October November Sales $ 210.000 5 475,000 5 450.000 Cash receipts from Prior penod sales Two Derods prior sale Total cash receipts Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Prepare the schedule of cash payments for direct materials. ONEIDA COMPANY Schedule of Cash Payments for Otect Materials September October November Material purchases $ 240.000 $ 225.000 5 193,000 Cash payments for Prior period purchases Two penods prior purchases Total cash payments