gte 10 Homework X Cost Accounting A S US LA U B ets/ewconnect theducation.com/flow/connect.htm apter 10 Homework Timpco, a retailer, makes both cash and credit sales de sales on open account information regarding budgeted sales for the last quarter of the year is as follows: Cash sales Credit sales Total October $150,000 150,000 $300,000 November $123,000 147,600 $270,000 December $109,000 119,900 $228,000 Past experience shows that 5% of credit sales are uncollectible. Or the credit sales that are collectible, 60% are collected in the month of sale; the remaining 40% are collected in the month following the month of sale Customers are granted a 15% discount for payment within 10 days of billing Approximately 75% of collectible credit sales take advantage of the cash discount Inventory purchases each month are 100% of the cost of the following month's projected sales. (The gross profit rate for Timpcois approximately 30% ) All merchandise purchases are made on credit with 20% paki in the month of purchase and the remainder paid in the following month No cash discounts for early payment are in effect Required: 1. Calculate the budgeted total cash receipts for November and December (Round your intermediate calculations and final answers to the nearest whole dollar amount.) 2. Calculate budgeted cash disbursements for November and December budgeted total sales for January of the coming year equals $211000) November December me here to search O! SNMOS