Requirement 1. Prepare the sales budget for November and December. Swanson Corner Shoppe Sales Budget For the Months of November and December Cash sales Credit sales Total sales November Data table December G . October sales were $270,000. Sales are projected to go up by 15% in November (from the October sales) and another 20% in December (from the November sales) and then return to the October level in January. 20% of sales are made in cash, while the remaining 80% are paid by credit or debit cards. The credit card companies and banks (debit card issuers) charge a 5% transaction fee, and deposit the net amount (sales price less the transaction fee) in the store's bank account daily. Swanson Corner Shoppe's gross profit is 25% of its sales revenue. For the next several months, the store wants to maintain an ending merchandise inventory equal to $10,000+20% of the next month's cost of goods sold. The September 30 inventory was $50,500. Expected monthly operating expenses include: . Wages of store workers are $8,400 per month . Utilities expense of $1,600 in November and $2,200 in December . Property tax expense of $2,300 per month . Property and liability insurance expense of $200 per month . Depreciation expense of $7,500 per month Transaction fees, as stated above, are 5% of credit and debit card sales -