The following information pertains to Vaccine Corporation:

Cash is collected from customers in the following manner:

*Month of sale (2% cash discount)30%

Month following sale 50%

Two months following sale15%

Amount uncollectible 5%

40% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month.

*Note: 30% x (2% cash discount on Month of Sale)

Required:

a)a summary of cash collections for the 4th quarter.

b) a summary of cash disbursements for the 4th quarter.