Oneida Company's operations began in August. August sales were $$215,000$ and purchases were $$125,000.$ The beginning cash

balance for september is $$5,000.$ Oneida's owner approaches the bank for a $$100,000$ 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.

All sales are on credit where $70\%$ of credit sales are collected in the month following the sale, and the remaining $30\%$ collected in the

second month following the sale. All merchandise is purchased on credit; $80\%$ of the balance is paid in the month following a

purchase, and the remaining $20\%$ is paid in the second month.

Required:

Prepare the following for the months of September, October, and November.

Schedule of cash receipts from sales.

Schedule of cash payments for direct materials.

Cash budget.

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Required $1$

Prepare the cash budget.