Capes Corporation is a wholesaler of industrial goods. Data regarding the store's operations follow. Sales are budgeted at $260,000 for November, $270,000 for December, and $250,000 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 60% 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 $61,000, The November beginning balance in the accounts payable account is $248,000, 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 Prepare a schedule of Expected Cash Collections for November and December November December Sales School of Expected Cash Colections Accorcia November December Required > Capes Corporation is a wholesaler of industrial goods. Data regarding the store's operations follow: Sales are budgeted at $260,000 for November, $270,000 for December, and $250,000 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 60% 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 $61,000. The November beginning balance in the accounts payable account is $248,000 204 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 Prepare a Merchandise Purchases Budget for November and December ovember December Merchandise Purchases Budget Cost of goods Reet