Prince Charles Island Company has expected sales of $$6,500$ in September, $$10,500$ in October, $$16,500$ in November, and $$12,500$ in December. Cash sales are $20$ percent and credit sales are $80$ percent of total sales. Historically, $40$ percent of receivables are collected in the month after the sale, and the remaining $60$ percent is collected two months after.

Assume that the company's cash payments for November are $$13,000,$ and December $$6,000.$ The beginning cash balance in November is $$5,000,$ which is the desired minimum balance.

a$.$ Prepare a cash receipts schedule for November and December.

b$.$ Prepare a cash budget with borrowing needed or repayments for November and December.