Music World reports the following sales forecast August, $160,000, and September, $230,000. Cash sales are normally 60% of total sales and all credit sales are expected to be collected in the month following the date of sale. Prepare a schedule of cash receipts for September MUSIC WORLD Cash Receipts Budget For Month Ended September 30 September cash sales Collection of accounts receivable Total budgeted cash receipts Wells Company reports the following sales forecast: September, $50,000, October, $73,000, and November, $75,000. All sales are on account Collections of credit sales are received as follows: 25% in the month of sale, 60% in the first month after sale, and 10% in the second month after sale. 5% of all credit sales are written off as uncollectible. Prepare a schedule of cash receipts for November WELLS COMPANY Budgeted Cash Receipts For Month Ended November 30 Cash receipts from November cash sales Collection of October's sales Collection of September's sales Total budgeted cash receipts Garda purchased $620,000 of merchandise in August and expects to purchase $790,000 in September. Merchandise purchases are paid as follows: 20% in the month of purchase and 80% in the following month Compute cash payments for merchandise for September GARDA Cash Payments for Merchandise (Budgeted) For Month Ended September 30 Cash payments for September purchases Cash payments for August purchases Total budgeted cash payments