The following data has been provided for Autumn Frocks.Autumn Frocks sells 30% of its merchandise for cash and 70% on account.60% of the sales on account are collected in the month of sale, 25% in the month following the sale, and 12% in the second month following the sale.The remainder is uncollectible.Sales forecasts for the listed four months of 2019 are as follows. Sales: September $50 000 October $60 000 November $40 000 December $30 000

On Nov 1 the company has acash balance of $9 000. Autumn Frocks always has a minimum cash balance of $5 000 on the first of every month to cover urgent payments.Expected cash payments during November total $42 000 and in December $35 640. Autumn Frocks has overdraft facilities up to $8 000 only. REQUIRED: a)Prepare a schedule of expected cash receipts from September, October, November and December 2019. b)Prepare a cash budget for the two months ended 31 December 2019 showing the expected cash balance at the end of each month.(It is not necessary to show a total column for the two months).

Answer here in below format

Month Total Sales Credit Sales September Receipts October Receipts November Receipts December Reciepts $ $ $ $ $ $ Total from credit sales Cash sales Total Cash Receipts

Nov Dec $ $ Expected Receipts (-) Expected payments

(20 marks)