Answeer all parts in typed not handwritten .. thanks

Caprice Corporation is a wholesaler of industrial goods. Data regarding the store's operations follow: Sales are budgeted at $350,000 for November, $320,000 for December, and $300,000 for January. Collections are expected to be 80% in the month of sale, 16% in the month following the sale, and 4% uncollectible. The cost of goods sold is 70% of sales. The company desires an ending merchandise inventory equal to 60% of the cost of goods sold in the following month. Payment for merchandise is made in the month following the purchase. The November depreciation is $48,000. The November estimated tax payable is $78,000. Selling and administrative expenses will amount to $100,000 per month. The November beginning balance in the accounts receivable account is $78,000. The November beginning balance in the accounts payable account is $254,000, which will be paid in December. Required: a) Prepare a Schedule of Expected Cash Collections for November and December. (2 marks) b) Prepare a Merchandise Purchases Budget for November and December. (3 marks) c) Discuss any TWO (2) benefits that organizations gain from using budgetary planning systems