Kiko Ltd is a family owned Asian grocery business that specialises in selling a variety of Japanese products. The company has recently started to receive orders from hotels across the state. It is now 1 October, and Mr Seike, the owner, is very pleased with his growing business. He compiled data on the business revenue and purchases for the past three months, and prepared forecasts for the upcoming three months as shown below:

	Sales Revenue	Purchases
Actual data:
July	$35,000	$22,000
August	$68,000	$40,000
September	$27,000	$16,000
Forecasted data:
October	$55,000	$29,000
November	$46,000	$25,000
December	$50,000	$27,000

The cash balance on 1 October is $95,000; The following information is also pertinent to Kikos cash movements:

20% of all sales per month are for cash, 70% of all credit sales are collected within the month of sale, 20% of credit sales are collected in the month following the sale, 7% of credit sales are collected two months after the sale, and the remaining 3% is deemed uncollectible;

70% of the amount for goods purchased is paid in the month of purchase, with the remaining 30% is paid in the following month;

Wages total $12,000 each month and are paid in the month they are incurred;

Budgeted operating expenses total $22,000 per month, and includes depreciation ($14,000) and rent ($2,500). Rent was prepaid in June for 6 months (up to and including December); and

$1,200 in interest payments are made on October 17th.

Based on the above information, prepare the following for Kiko Ltd:

(a) A schedule of cash receipts for October from sales.

(b) A cash budget for October.

(c) Recommend three options for improving the speed of cash collections from sales to improve the cash position.