The answers marked Green are correct. The answers marked Red are incorrect.

Please show me the answers to the answers that are incorrect (marked red). Please show all work.

Weldon Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: Sales are budgeted at $330,000 for November, $350,000 for December, and $340,000 for January Collections are expected to be 70% in the month of sale, 27% in the month following the sale, and 3% uncollectible The cost of goods sold is 79% of sales. The company desires an ending merchandise inventory equal to 70% of the cost of goods sold in the following month. Payment for merchandise is made in the month following the purchase. Other monthly expenses to be paid in cash are $20,100. Monthly depreciation is $15,100. Ignore taxes Balance Sheet October 31 Assets Cash 21,100 Accounts receivable (net of allowance for uncollectible accounts) 81,100 Merchandise Inventory 182,490 Property, plant and equipment (net of $651,000 accumulated depreciation) 1,170,000 1,454,690 Total assets Liabilities and Stockholders' Equity 198,100 Accounts payable Common stock 740,000 Retained earnings 516,590 1,454,690 Total liabilities and stockholders' equity Required a. Prepare a Schedule of Expected Cash Collections for November and December. Answer is complete and correct WELDON INDUSTRIAL GAS CORPORATION Schedule of Expected Cash Collections November December Sales 330,000 S 350,000 Schedule of Expected Cash Collections S 81,100 Accounts receivable 231,000 S 89,100 November sales 245,000 December sales S S 312,100 334,100 Total cash collections