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Timpco, a retailer, makes both cash and credit sales (.e., sales on open account). Information regarding budgeted sales for t

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1. Budgeted Cash Receipts:
November:
     Cash sales = $      95,000
     Collection of accounts receivable:
       From Oct Sales:
(115000*(1-0.05))*0.4*0.75*(1-0.015) $      32,283
(115000*(1-0.05))*0.4*(1-0.75) $      10,925
       From Nov Sales:
(114000*(1-0.05))*0.6*0.75*(1-0.015) $      48,004
(114000*(1-0.05))*0.6*(1-0.75) $      16,245 $     202,457
December:
     Cash sales = $      95,000
     Collection of accounts receivable:
        From Nov Sales:
(114000*(1-0.05))*0.4*0.75*(1-0.015) $      32,003
(114000*(1-0.05))*0.4*(1-0.75) $      10,830
        From Dec Sales:
(104500*(1-0.05))*0.6*0.75*(1-0.015) $      44,004
(104500*(1-0.05))*0.6*(1-0.75) $      14,891 $     196,728
2. Budgeted Cash Disbursements:
November:
    From Nov sales:
(199500*(1-0.3))*0.2 $      27,930
    From Oct sales:
(209000*(1-0.3))*0.8 $     117,040 $     144,970
December:
    From Dec Sales:
(190000*(1-0.3))*0.2 $      26,600
    From Nov Sales:
(199500*(1-0.3))*0.8 $     111,720 $     138,320
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