Capes Corporation is a wholesaler of industrial goods. Data regarding the store's operations follow:

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$*$ Sales are budgeted at $$470,000$ for November, $$480,000$ for December, and $$460,000$ for January.

$*$ Collections are expected to be $60\%$ in the month of sale and $40\%$ in the month following the sale.

$*$ The cost of goods sold is $70\%$ of sales.

$*$ The company desires an ending merchandise inventory equal to $40\%$ 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 $$82,000.$

$*$ The November beginning balance in the accounts payable account is $$269,000.$

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Required:

a$.$ Prepare a Schedule of Expected Cash Collections for November and December.

b$.$ Prepare a Merchandise Purchases Budget for November and December.