Wheeling Company is a merchandiser that provided a balance sheet as of September $30$ as shown below:

The company is in the process of preparing a budget for October and assembled the following data:

Sales are budgeted at $$300,000$ for October and $$310,000$ for November. Of these sales, $35\%$ will be for cash; the remainder will be credit sales. Forty percent of a month's credit sales are collected in the month the sales are made, and the remaining $60\%$ are collected in the following month. All of the September $30$ accounts receivable will be collected in October.

$2$ The budgeted cost of goods sold is always $45\%$ of sales and the ending merchandise inventory is always $30\%$ of the following month's cost of goods sold.

All merchandise purchases are on account. Thiry percent of all purchases are paid for in the month of purchase and $70\%$ are paid for in the following month. All of the September $30$ accounts payable to suppliers will be paid during October.

Selling and administrative' expenses for October are budgeted at $$86,800.$ exclusive of depreciation. These expenses will be paid in cash. Depreciation is budgeted at $$2790$ for the month.

Required:

Using the information provided, calculate or prepare the following for October:

a$.$ The budgeted cash collections.

b$.$ The budgeted merchandise purchases.

c$.$ The budgeted cash disbursements for merchandise purchases.

d$.$ The budgeted net operating $$ncome$.$

e$.$ An$-$end$-$of$-$month budgeted balance sheet.

Assume the following changes to the underlying budgeting assumptions:

$50\%$ of a month's credit sales are collected in the month the sales are made and the remaining $50\%$ are collected in the following month

The ending merchandise inventory is always $10\%$ of the following month's cost of goods sold

$20\%$ of all purchases are paid for in the month of purchase and $80\%$ are paid for in the following month.

Using these new assumptions, calculate or prepare the following for October:

a$.$ The budgeted cash collections.

b$.$ The budgeted merchandise purchases.

c$.$ The budgeted cash disbursements for merchandise purchases.

d$.$ Net operating income.

e$.$ An end$-$of$-$month budgeted balance sheet. No