Oneidn Company's operations began in August. August sales were $160,000 and purchases were $105,000. The beginning cash batance for sentember is $33,500. Oneida's owner approaches the bank for a $109,500 loan to be made on 5 eptember 2 and ropsid on November 30. The bank's loan officer asks the owner to prepare monthly cash budigets, its budgeted sales, merchandise purchases, and cash payments for other expenses for the nout three montrs follow. Ali sales are on credit where 74% of credit sales are collectod in the month following the sale, and the remaining 26% collected in the second month following the sale. All merchandise is purchased on credit, 84% of the balance is paid in the month following a purchase, and the remaining 16% is paid in the second month. Aequired: Pequired: Prepare the following for the months of September, October, and November 1. Schedule of cash receipts from sales. 2. Schedile of cash payments for direct materials. 3. Cash budget. Complete this question by entering your anwwers in the tabs below. Prepare the schedile of cash receipts fram sale: Oneida Company's operations began in August. August sales were $160,000 and purchase 5 were $105,000, The beginning cash balance for september is $33,500. Oneida's owner approaches the bank for a $109,500 loan to be made on September 2 and repeid 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 74% of credit sales are collected in the month following the sale, and the remaining 26% collected in the second month following the sale. All merchandise is purchased on credit; 84% of the balance is paid in the month following a purchase, and the remaining 16% 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 poyments for direct materials. 3. Cash budgot. Complete this quention by entering your answers in the tabs below. Prepare the scheduse of cash poyments for direct materials. All sales are on credit where 74% of credit sales are collected in the month following the sale, and the remaining 26% collected in the second month following the sale. All merchandise is purchased on credit: 84% of the balance is pald in the month following a purchase, and the remaining 16% is paid in the second month. Required: Prepare the following for the months of Septembet, October, and November 1. Schedule of cash recelpts from sales. 2. Schedule of cash payments for direct materials. 3. Cash budget. Complete this question by entering your answers in the tabs below. Prepare the cash budget