A Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: - Sales are budgeted at $340,000 for November, $360,000 for December, and $350,000 for January. - Collections are expected to be 75% in the month of sale and 25% in the month following the sale. - The cost of goods sold is 80% of sales. - The company desires an ending merchandise inventory equal to 75% of the cost of goods sold in the following month. - Payment for merchandise is made in the month following the purchase. - Other monthly expenses to be paid in cash are $20.200. - Monthly depreciation is $20,000. - Ignore taxes. Required: a. Prepare a Schedule of Expected Cash Collections for November and December. b. Prepare a Merchandise Purchases Budget for November and December. Complete this question by entering your answers in the tabs below. Required: a. Prepare a Schedule of Expected Cash Collections for November and December. b. Prepare a Merchandise Purchases Budget for November and December. Complete this question by entering your answers in the tabs below. Prepare a Schedule of Expected Cash Collections for November and December. b. Prepare a Merchandise Purchases Budget for November and December. Complete this question by entering your answers in the tabs below. Prepare a Merchandise Purchases Budget for November and December