Collections are expected to be $75\%$ in the mer, $$360,000$ for December, and $$350,000$ for January.

The cost of goods sold is $71\%$ of sales.

The company desires an ending merchandise

Payment for merchandise is made in the montise inventory equal to $75\%$ of the cost of goods sold in the following

Other monthly expenses to be paid in cash ar following the purchase.

Monthly depreciation is $$21,200.$

Ignore taxes.

Assets

Cash

Accounts receivable

Merchandise inventory

Property, plant and equipment $($net of $$596,000$ accumulated depreciation$)$

Total assets

Liabilities and Stockholders' Equity

Accounts payable

Common stock

Retained earnings

Total liabilities and stockholders' equity

$?$equired:

Prepare a Schedule of Expected Cash Collections for November and December.

Prepare a Merchandise Purchases Budget for November and December.

$.$ Prepare Cash Budgets for November and December.

$.$ Prepare Budgeted Income Statements for November and December.

Prepare a Budgeted Balance Sheet for the end of December.

Complete this question by entering your answers in the tabs below.

Balance Sheet October $31$