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The following information is from White Mountain Furniture Showroom's financial records. Month Sales Purchases July $72,000$44,000 August67,00051,000 September69,00039,000 October77,00057,000 Collections from customers are normally 70

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

Month Sales Purchases

July $72,000$44,000

August67,00051,000

September69,00039,000

October77,00057,000

Collections from customers are normally 70 percent in the month of sale, 19 percent in the month following the sale, and 9 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 1 percent discount allowed on purchases paid for by the tenth of the following month. Purchases for November are budgeted at $66,000, and sales for November are forecasted at $72,000. Cash disbursements for expenses are expected to be $15,200 for the month of November. The company's cash balance on November 1 was $29,000.

  1. Prepare the schedule for expected cash collections during November.
  2. Prepare the schedule for expected cash disbursements during November.
  3. Prepare the schedule for expected cash balance on November 30.

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