Graham Potato Company has projected sales of $12.000 in September, $15,000 in October, $22.000 in November, and $18,000 in December. Of the company's sales, 30 percent are paid for by cash and 70 percent are sold on credit. Experience shows that 40 percent of accounts receivable are paid in t two months after. Determine collections for November and December he month after the sale, while the remaining 60 percent are paid Also assume Graham's cash payments for November and December are $18,500 and $11,000, respectively. The beginning cash balance in November is minimum balance $5,000, which is the desired a. Prepare a cash receipts schedule for November and December Graham Potato Company Cash Receipts Schedule SeptemberOctober November December 1,000 $ 2200018,000 12,600 5,400 6,160 6,300 17,860 15,400 6,600 $ 4,200 5,040 15,840 Credit sales 8,400 10.500 Cash sales One month after sale Two months after sale Total cash receipts b. Prepare a cash budget with borrowing needed or repayments for November and December. (Negative amounts should be indicated by a minus beginning loan balance is SO.) 11-27 AM OType here to search Graham Potato Company has projected sales of $12.000 in September, $15,000 in October, $22.000 in November, and $18,000 in December. Of the company's sales, 30 percent are paid for by cash and 70 percent are sold on credit. Experience shows that 40 percent of accounts receivable are paid in t two months after. Determine collections for November and December he month after the sale, while the remaining 60 percent are paid Also assume Graham's cash payments for November and December are $18,500 and $11,000, respectively. The beginning cash balance in November is minimum balance $5,000, which is the desired a. Prepare a cash receipts schedule for November and December Graham Potato Company Cash Receipts Schedule SeptemberOctober November December 1,000 $ 2200018,000 12,600 5,400 6,160 6,300 17,860 15,400 6,600 $ 4,200 5,040 15,840 Credit sales 8,400 10.500 Cash sales One month after sale Two months after sale Total cash receipts b. Prepare a cash budget with borrowing needed or repayments for November and December. (Negative amounts should be indicated by a minus beginning loan balance is SO.) 11-27 AM OType here to search