Capes Corporation is a wholesaler of industrial goods. Data regarding the stores operations follow:

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

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

The company des sold is $70\%$ of sales.

for merchandise is made in the merchandise inventory equal to $40\%$ of the cost of goods sold in the following month. Payment

The November beginning in the month following the purchase.

The November beginning balance in the accounts receivable account is $$82,000.$

Required:

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

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

Complete thls question by entoring your answers in the tros below.

Required $A$

Required

Prepare a Merchandise Purchases Budget for November and December.

$\backslash$table$[[$Cost of goods sold$],[$P$),$H$,,,],[$Total needs,,$0,,0],[$H$,$r$,$I,,$],[$Required purchases,$$,0,$$$,0]]$

Reanuired A