Capes Corporation is a wholesaler of industrial goods. Data regarding the store's operations follow. - Sales are budgeted at $380,000 for November, $390,000 for December, and \$370,000 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 75% 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 in the month following the purchase - The November beginning balance in the accounts receivable account is $73,000. - The November beginning balance in the accounts payable account is $260000. 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 Collections for November and December. 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 Merchandise Purchases Budget for November and December