Burmingham Corporation distributes a variety of gas products. All sales are on account. The beginning balance in the cash account on November 1 is $22,000. Data regarding the company's operations follow:

• Sales are budgeted at $320,000 for November, $340,000 for December, and $330,000 for January.
• Collections are expected to be 75% in the month of sale, 20% in the month following the sale, and 5% uncollectible. The beginning balance in Accounts Receivable (net) as of November 1 is $82,000
• The cost of goods sold is 65% of sales. Ending inventory is 20% of the next months Cost of Goods Sold. The beginning balance in the inventory account as of November 1 is $66,400.
• Payment for merchandise is made 50% in the month of the purchase and 50% following the month of the purchase. The beginning balance in Accounts Payable as of November 1 is $99,000.
• Other monthly expenses to be paid in cash each month are $105,000.
• Monthly depreciation is $16,000.

Required: Please show all calculations. If a formula is used across the months for a calculation, you may indicate the formula to show the calculation. Calculations count points and if calculations are not shown points will be deducted.

Prepare a Cash Budget for November and December with all needed supporting schedules.