The following information is from White Mountain Furniture Showroom's financial records Month July August September 66,000 35,000 October 80,000 53,000 Sales Purchases $76,000 $60,000 70,000 47,000 Collections from customers are normally 67 percent in the month of sale, 15 percent in the month following the sale, and 15 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 3 percent discount allowed on purchases paid for by the tenth of the following month. Purchases for November are budgeted at $61,000, and sales for November are forecasted at $67,000. Cash disbursements for expenses are expected to be $15,400 for the month of November. The company's cash balance on November 1 was $38,000 Required 1. Prepare the schedule for expected cash collections during November WHITE MOUNTAIN FURNITURE SHOWROOM Expected Cash Collections November Expected Collections Month Sales Percent Total 2. Prepare the schedule for expected cash disbursements during November WHITE MOUNTAIN FURNITURE SHOWROOM Expected Cash Disbursements November October purchases to be paid in November Net Cash disbursements for expenses Total 0 3. Prepare the schedule for expected cash balance on November 30. WHITE MOUNTAIN FURNITURE SHOWROOM Expected Cash Balance November 30 Balance, November 1 Expected balance