Capes Corporation is a wholesaler of industrial goods Data regarding the store's operations follow Sales are budgeted at $470,000 for November, $480,000 for December, and $160,000 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 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 December November 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. Required A Required B Prepare a Schedule of Expected Cash Collections for November and December November December Sales Schedule of Expected Cash Collections Accounts receivable November sales December sales Total cash collections Required B > 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 Merchandise Purchases Budget for November and December November December Merchandise Purchases Budget Cost of goods sold Total needs Required purchases