Provide formulas, procedure in excel

QUESTION 6

1. Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow:
   • Sales are budgeted at $370,000 for November, $350,000 for December, and $340,000 for January.
   • Collections are expected to be 55% in the month of sale and 45% in the month following the sale.
   • The cost of goods sold is 70% of sales.
   • The company would like maintain ending merchandise inventories equal to 60% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase.
   • Other monthly expenses to be paid in cash are $24,300.
   • Monthly depreciation is $15,300.
   • Ignore taxes.

Balance Sheet October 31
Assets
Cash	$	20,300
Accounts receivable		70,300
Merchandise inventory		155,400
Property, plant and equipment, net of $572,300 accumulated depreciation		1,094,300
Total assets	$	1,340,300
Liabilities and Stockholders' Equity
Accounts payable	$	254,300
Common stock		820,300
Retained earnings		265,700
Total liabilities and stockholders' equity	$	1,340,300

3. Required:
4. 1. Prepare the cash receipts for December.
5. 2. Prepare the cash disbursements for December.
6. 3. Calculate the difference between cash receipts and cash disbursements for December.