Sales are budgeted ot $$470,000$ for November, $$480,000$ for December, and $$460,000$ for Jenuary.

The cost of goods sold is $70\%$ of sales. $60\%$ in the month of sale and $40\%$ in the month following the saie.

The company desires an ending merch

for merchandise is made in the month followinventory equal to

The November beginning balance in the accou the purchase. $40\%$ of the cost of goods sold in the following month. Paym

$"$ The November beginning balance in the accounts receivable account is $$82,000.$

Required:

a$.$ Prepare a Schedule of Expected Cash Collections for November and December.

b$.$ Prepare a Merchandise Purchases Budget for November and December.

Prepare a Schedule of Expected Cash Collections for November and December.

$\backslash$table$[[$Sales$,,],[$Schedule of Expected Cash Collections$],[$Accounts receivable,$7,],[$November sales,,$],[$December sales,,$],[$Total cash collections,$0,$$