The following information is from White Mountain Furniture Showroom's financial records.

Month

Sales

Purchases

July

$

76,000

$

61,000

August

74,000

57,000

September

62,000

45,000

October

74,000

63,000

Collections from customers are normally 69 percent in the month of sale, 19 percent in the month following the sale, and 11 percent in the second month following the sale. The balance is expected to be uncollectible. All purchases are on account. Management takes full advantage of the 4 percent discount allowed on purchases paid for by the tenth of the following month. Purchases for November are budgeted at $70,000, and sales for November are forecasted at $76,000. Cash disbursements for expenses are expected to be $15,800 for the month of November. The company's cash balance on November 1 was $34,000.

1.

Prepare the schedule for expected cash collections during November.

WHITE MOUNTAIN FURNITURE SHOWROOM

Expected Cash Collections

November

Month Sales Percent Expected Collections

%%%Total

Prepare the schedule for expected cash disbursements during November.

WHITE MOUNTAIN FURNITURE SHOWROOM

Expected Cash DisbursementsNovemberOctober purchases to be paid in November

Net

Cash disbursements for expensesTotal

Prepare the schedule for expected cash balance on November 30.

WHITE MOUNTAIN FURNITURE SHOWROOM

Expected Cash Balance

November 30

Balance, November 1

Expected balance

CORRECT AND ANSWER PLEASE SOME ONE ALREADY GOT IT PARTIALLY INCORRECT