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Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry Data regarding the store's operations follow Sales are budgeted at $300.000 for November $320,000 for December and $310,000 for January Collections are expected to be 75% in the month of sale and 25% in the month following the sale . The cost of goods sold is 75% of sales The company desires an ending merchandise inventory equal to 70% of the cost of goods sold in the following month Payment for merchandise is made in the month following the purchase . Other monthly expenses to be paid in cash are $21,800 Monthly depreciation is $21.600 Ignore taxes alance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment (nt of $60,000 miled depreciation Totalets $ 22.600 3,600 157,50 1,010,000 $1,273,700 Lissities and Stockholders' Equity Accounts payable Con stack er ned marine Total abilities and stockholders uity $ 190,00 G000 37.100 $1,223,00 Required Prepare a schedule of Expected Cash Collection for November and December b. Prepare a Merchandise Purchases Budget for November and December c. Prepare Cash Budgets for November and December d Prepare Budgeted Income Statements for November and December - Required: a. Prepare a Schedule of Expected Cash Collections for November and December b. Prepare a Merchandise Purchases Budget for November and December c. Prepare Cash Budgets for November and December d. Prepare Budgeted Income Statements for November and December e. Prepare a Budgeted Balance Sheet for the end of December Complete this question by entering your answers in the tabs below. Required A Required Required Required Required Prepare a Schedule of Expected Cash Collections for November and December November December Sales Schedule of Expected Cash Collections Accounts receivable Noveiber sales December sales Total cash collections Required B >

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