Caprice Corporation is a wholesaler of industrial goods. Data regarding the store's operations follow Collections are expected to be 60% in the month of sale, 38% in the month following the sale, and 296 uncollectible. ?The company desires an ending merchandise inventory equal to 40% o The November beginning balance in the accounts receivable account is $T7,000. Sales are budgeted at $420,000 for November, $430,000 for December, and $410,000 for January. The cost of goods sold is 70% of sales. purchase. The November beginning balance in the accounts payable account is $264,000. the cost of goods s d in the owing mont Payment for mer ar i e s made in the month following he Required: a. Prepare a Schedule of Expected Cash Collections for November and December. CAPRICE CORPORATION Schedule of Expected Cash Collections November December Sales Schedule of Expected Cash Collections Accounts receivable November sales December sales Total cash collections