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Oneida Company's operations began in August. August sales were $180,000 and purchases were $120,000. The beginning cash balance for september is $32,000. Oneida's owner approaches the bank for a $106,500 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 Sales September $ 250,000 220,000 October $ 475,000 225,000 November $430,000 194,000 Merchandise purchases. Cash payments Salaries 29,600 29,600 29,600 Rent 10,000 10,000 10,000 Insurance 5,300 5,300 5,300 Repayment of loan 106,500 1,065 Interest on loan 1,065 1,065 All sales are on credit where 78% of credit sales are collected in the month following the sale, and the remaining 22% collected in the second month following the sale. All merchandise is purchased on credit; 88% of the balance is paid in the month following a purchase, and the remaining 12% 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. Cash 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 $ 250,000 $ 475,000 $ 430,000 Cash receipts from: Prior period sales Two periods prior sales Required 2 > Total cash receipts