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Timpco. a retailer, makes both cash and credit sales e, sales on open account}. Information regarding budgeted sales for the last quarter of the year is as follows: October November December Cash sales 5 70,000 $ 63,000 $ 79,000 Credit sales 70,000 75,600 86,900 Total 5 140,000 $138,600 5 165,900 Past experience shows that 5% of credit sales are uncollectible. Of the credit sales that are collectible. 60% are collected in the month of sale: the remaining 40% are collected in the month following the month of sale. Customers are granted a 1.5% discount for payment within 10 days of billing. Approximately 75% of collectible credit sales take advantage of the cash discount. Inventory purchases each month are 100% of the cost of the following month's projected sales. (T he gross profit rate for Timpco is approximately 30%.) All merchandise purchases are made on credit. with 20% paid in the month of purchase and the remainder paid in the following month. No cash discounts for early payment are in effect. Required: 1. Calculate the budgeted total cash receipts for November and December. [Round your Intermediate calculations and final answers to the nearest whole dollar amount.) 2. Calculate budgeted cash disbursements for November and December {budgeted total sales for January ofthe coming year equals $166,000). 1. Total cash receipts 2. Budgeted cash disbursements