Ch22 H.W(1): Prepare cash sales collection, Purchase, and purchase payment Budgets The following are Tech. To Go estimated sales during September, October, November and December 2019: - - September October $ 80,000 - November December The following information added: $ 100,000 $112,000 $ 128,000 60% of sales are cash sales while the remaining will collected during the month after the sales. The company maintains ending inventory of $12,000 plus 10% of the cost of goods sold budgeted for the following month. Cost of goods sold equal 75% of sales revenue. 75% of purchases will paid in the same month of purchases and the balance will paid in the following month. (A/P at the end of September is equal $20,000) Requirement: 1- Prepare the company's cash receipts from customers budget for October and November. 2- Prepare the company's budgeted purchases for October and November. 3- Prepare the company's cash purchase payment budget for October and November.