Caprice Corporation is a wholesaler of industrial goods. Data regarding the store's operations follow: - Sales are budgeted at $420,000 for November, $430,000 for December, and $410,000 for January. - Collections are expected to be 60% in the month of sale, 38% in the month following the sale, and 2% uncollectible. - 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 $77,000. - The November beginning balance in the accounts payable account is $264,000. Required: a. Prepare a Schedule of Expected Cash Collections for November and December. Required: a. Prepare a Schedule of Expected Cash Collections for November and December. b. Prepare a Merchandise Purchases Budget for November and December