Capes Corporation is a wholesaler of industrial goods. Data regarding the store's operations follow. - Sales are budgeted at $460,000 for November, $470,000 for December, and $450,000 for January. - Collections are expected to be 55% in the month of sale and 45% in the month following the sale. - The cost of goods sold is 60% of sales. - The company desires an ending merchandise inventory equal to 35% of the cost of goods sold in the following month. Payment for merchandise is made in the month following the purchase. - The November beginning balance in the accounts recelvable account is $81,000. - The November beginning balance in the accounts payable account is $268,000. 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. Prepare a Schedule of Expected Cash Coliections for November and December