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Capes Corporation is a wholesaler of industrial goods Data regarding the stores operations follow Sales are budgeted at $320,000 for November 5330,000 for December and $310.000 for January Collections are expected to be 40% in the month of sale and 50% in the month following the sale The cost of goods sold is 75% of sales . The company desires an ending merchandise inventory equal to 20% of the cost of goods sold in the following month Payment for merchandise is made in the month following the purchase The November beginning balance in the accounts receivable account in $67000 The November beginning balance in the accounts payable accounts $254.000 Required: a Prepare a Schedule of Expected Cash Collections for November and December b Prepare a Merchandise Purchases Budget for November and December Complete this question by entering your answers in the tabs below Required Required Prepare a Schedule of Expected Cash Collections for November and December December Sales Schedule of Espected Cash Cobecon Accounts relati Marat ) December Total cash colledions Us Required) Complete this question by entering your answers in the tabs below Required A Required Prepare a Merchandise Purchases Budget for November and December. November December Merchandise Purchases Budget Cost of goods sold Add Desired ending merchandise inventory Total needs Less Beginning merchandise Inventory Required purchases os 0