Oneida Company's operations began in August. August sales were $160,000 and purchases were $100,000. The beginning cash balance for september is $30,000. Oneida's owner approaches the bank for a $101,000 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. September $ 230,000 235,000 October $ 395,000 210,000 November $ 490,000 199,000 Budgeted Sales Merchandise purchases Cash payments Salaries Rent Insurance Repayment of loan Interest on loan 28,800 9,000 4,500 28,800 9,000 4,500 28,800 9,000 4,500 101,000 1,010 1,010 1,010 All sales are on credit where 72% of credit sales are collected in the month following the sale, and the remaining 28% collected in the second month following the sale. All merchandise is purchased on credit; 82% of the balance is paid in the month following a purchase, and the remaining 18% 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 Answer is not complete. 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 Schedule of Cash Receipts from Sales September October $ 230,000 $ 395,000 November $ 490,000 Sales Cash receipts from: Prior period sales Two periods prior sales Total cash receipts $ 160,000 $ 230,000 $ 395,000 0 0 160,000 230,000 $ 160,000 $ 390,000 $ 625,000 (Required 1 Required 2 >