ABC Company has the following forecasts:

Month Sales Forecast( $000)

October 2017 $1,000

November 1,500

December 3,000

Notes: All sales are made on credit terms of net 30 days and are collected all in the following month;

There is $700 accounts receivable at the end of September;

Inventory on hand represents a safety stock level and will be maintained.

Inventory is purchased in the month of sale and paid for in cash.

Cost of goods sold average 80 percent of sales.

Total wages and commissions fixed at $100 per month; all paid within the same month;

Beginning cash is $50,000

Questions: Based on the sales forecast, for the months of November and December, use the ABC Cash Budget Excel template to:

A) Develop a receivable schedule

B) Develop an purchase schedule

C) Develop a cash budget based on above information