Oneida Company's operations began in August. August sales were $160,000 and purchases were $100,000. The beginning casn balance for september is $32,000. Oneida's owner approaches the bank for a $103,000 loan to be made on September 2 and repaid on November 30. The bank's loan officer asks the owner to prepare monthly cash budgets. Its budgeted sales, merchandise purchases, and cash payments for other expenses for the next three months follow. Budgeted Sales Merchandise purchases Cash payments Salaries Rent Insurance Repayment of loan Interest on loan September $ 220,000 240,000 October $ 445,000 220,000 November $510,000 192,000 31,200 31,200 31,200 10,000 10,000 10,000 5,000 1,030 5,000 1,030 5,000 103,000 1,030 All sales are on credit where 75% of credit sales are collected in the month following the sale, and the remaining 25% collected in the second month following the sale. All merchandise is purchased on credit; 85% of the balance is paid in the month following a purchase, and the remaining 15% is paid in the second month. Required: Prepare the following for the months of September, October, and November. 1. Schedule of cash receipts from sales. 2. Schedule of cash payments for direct materials. 3. Cash budget. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the schedule of cash receipts from sales. ONEIDA COMPANY Sales Cash receipts from: Prior period sales Two periods prior sales Total cash receipts Schedule of Cash Receipts from Sales September October November 220,000 $ 445,000 $ 510,000