Cape Cod Corporation is a wholesaler of marine supplies. Data regarding the store's operations follow Sales are budgeted at $300,000 for November, $310,000 for December, and $290,000 for January .Collections are expected to be 50% in the month of sale and 50% in the month following the sale .The cost of goods sold is 70% of sales. The company desires an ending merchandise Inventory equal to 30% of the cost of goods sold in the following month. Payment for merchandise is made 100% in the month following the purchase. The November beginning balance in the accounts receivable account is $65,000, The November beginning balance in the accounts payable account is $252,000. 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 Required B Prepare a Schedule of Expected Cash Collections for November and December. Sales Schedule of Expected Cash Collections Accounts receivable November sales December sales Total cash collections November December $ 0 $ 0 Required A Required B >