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I need this answer for my Accounting study. Thank you. Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the

I need this answer for my Accounting study. Thank you.

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Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: . Sales are budgeted at $330,000 for November, $350,000 for December, and $340,000 for January. . Collections are expected to be 70% in the month of sale and 30% in the month following the sale. . The cost of goods sold is 67% of sales. . The company desires an ending merchandise inventory equal to 85% of the cost of goods sold in the following month. . Payment for merchandise is made in the month following the purchase. . Other monthly expenses to be paid in cash are $22,100. . Monthly depreciation is $21,900. . Ignore taxes. Balance Sheet October 31 Assets Cash $ 22,900 Accounts receivable 83,900 Merchandise inventory 187,935 Property, plant and equipment (net of $603,000 accumulated depreciation) 1,013,000 Total assets $1,307,735 Liabilities and Stockholders' Equity Accounts payable $ 196,900 Common stock 710,000 Retained earnings 400,835 Total liabilities and stockholders' equity $1,307,735 Required: a. Prepare a Schedule of Expected Cash Collections for November and December. b. Prepare a Merchandise Purchases Budget for November and December. c. Prepare Cash Budgets for November and December. d. Prepare Budgeted Income Statements for November and December. e. Prepare a Budgeted Balance Sheet for the end of December. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E Prepare a Schedule of Expected Cash Collections for November and December. November December Sales Schedule of Expected Cash Collections Accounts receivable November sales December sales Total cash collections

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