Graham Potato Company has projected sales of 311,400 in September, 314,500 in October, 521,400 in November, and 517,400 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 the month after the sale, while the remaining 60 percent are paid two months after. Detenmine collections for November and December Also assume Graham's cash payments for November and December are $18,00D and $10,500, respectively. The beginning cash balance in November is $5,000, which is the desired minimum balance. a. Prepare a cash receipts schedle for November and December Graham Potato Company Cash Receipts Schedule October November December Sales Credt sales Cash sales One month after sale Two months after sak 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 sign. Assume the November beginning loan balance is S0.) Graham Potato Company Cash Budget Novernber December Total cash receipts Total cash payments Net cash flow Beginning cash balance Cumulative cash balance Monthly borrowing repayment) Encing cash balance Cumulate loan balance D S D S