Q$1$

Timpco, a retailer, makes both cash and credit sales $($i$.$e$.,$ sales on open account$).$ Information regarding budgeted sales for the last quarter of the year is as follows:

$\backslash$table$[[,,$October,November,December$],[$Cash Sales,$$100,000,$$$120,000,$$$80,000,],[$Credit Sales,$$100,000,$$$150,000,$$$90,000,],[$Total$,$$$200,000,$$$270,000,$$$170,000,]]$

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 $1\mathrm{.}5\%$ 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. $($The gross profit rate for Dyson is approximately $30\%.)$ All merchandise purchases are made on credit, with $25\%$ paid in the month of purchase and the remainder paid in the following month. No cash discounts for early payment are in effect.

Requirements

Calculate the budgeted total cash receipts for November and December.

Calculate budgeted cash payments for November and December. Budgeted sales for January of the coming year $=$$$200,000$