Question 11 (7 points) Please use the following information for the next 3 questions: Mighty Fine Goods (MFG) is a wholesaler of industrial goods. Data regarding the store's operations follow: a Sales are budgeted at $300,000 for November, $310,000 for December, and $290,000 for January. . Collections are expected to be 50% in the month of sale and 50% in the month following the sale. The cost of goods sold is 70% of sales. The company desires an ending merchandise inventory equal to 30% of the cost of goods sold in the following month. Payment for merchandise is made in the month following the purchase. The November beginning balance in the accounts receivable account is $65.000. The November beginning balance in the accounts payable account is $252.000. Required: A) Prepare a Schedule of Expected Cash Collections for November and ecember IM Paragraph BIJA, Question 12 (8 points) B) Prepare a Merchandise Purchases Budget for November and December. Paragraph U v A 111 11 O + d ... Question 13 (5 points) C) The manager of MFG says to you, "Man, making these budgets is a lot of work! | think we should stop doing them. I oubt anybody es them yways." What do you think? Do you recommend the manager stop doing their budgets? Explain. Paragraph BI U A