Capes Corporation is a wholesaler of industrial goods. Data regarding the store's operations follow. Sales are budgeted at $300,000 for November, $310,000 for December, and $290,000 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 70% 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 $65.000. The November beginning balance in the accounts payable account is $252.000. 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 B Prepare a Schedule of Expected Cash Collections for November and Dece November December Sales Schedule of Expected Cash Collections Accounts receivable November sales December Sales Total cash collections