Problem 4-24 (Algo) Cash budget [LO4-2] Graham Potato Company has projected sales of $11.400 in September, $14,500 in October, $21,400 in November, and $17,400 in December. Of the company's sales, 30 percent are paid for by cash and 70 percent are sold on credit. Experience shows that 40 percent of accounts receivable are paid in the month after the sale, while the remaining 60 percent are paid two months after Determine collections for November and December Also assume Graham's cash payments for November and December are $18,000 and $10,500, respectively. 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 Graham Potato Company Cash Receipts Schedule September October November December Sales Credit sales Cash sales One month after sale Two months after sale Total cash receipts $ 0 $