Capp Corporation is a wholesaler of industrial goods. Data regarding the store's operations follow: Sales are budgeted at $430,000 for November, $440,000 for December, and $420,000 for January Collections are expected to be 40% in the month of sale, 57% in the month following the sale, and 3% uncollectible. The cost of goods sold is 75% of sales The company desires an ending merchandise inventory equal to 20% of the following month's cost of goods sold. Payment for merchandise is made in the month following the purchase The November beginning balance in the accounts receivable account is $78,000 The November beginning balance in the accounts payable account is $265,000 Required a. Prepare a Schedule of Expected Cash Collections for November and December. (Omit the "$" sign in your response.) Capp Corporation Schedule of Expected Cash Collections December $ 420000 November $440000 Sales Schedule of Expected Cash Collections Accounts receivable November sales December sales 78,000 $239,500 180,500 176,000 Total cash collections b. Prepare a Merchandise Purchases Budget for November and December. (Input a amounts as positive values. Omit the "$" sign in your response.)