The following information pertains to the operating budget for Opa Locka Stuff Corporation.   ·         Sales for August were $170,000 ·         Sales for September were...

 The following information pertains to the operating budget for Opa Locka Stuff Corporation.

·         Sales for August were $170,000

·         Sales for September were $190,000

·         Budgeted sales for October is $180,000 and for November is $220,000.

·         Cash sales are 10% of total sales

·         Collections for sales on account are 50% in the month of sale, 40% the next month, 8% in the third month.

·         Gross margin is 40% of sales.

·         Purchases are paid 30% in the month of purchase and 70% in the next month.Merchandise is bought and sold in the same month.  There is no beginning or ending inventory. 

·         Operating, general & administrative costs are $60,000 each month, $5,000 of which is depreciation expense.

·         A quarterly insurance payment is due on October 5^th in the amount of $15,000.

·         Opa Locka policy is to end each month with $20,000 cash on hand. 

·         Beginning cash balance on October 1 is $20,000.

·         The outstanding loan balance on October 1 is $30,000.

What are . . .

Collections from sales for                      October _____________ November  ­­_____________

Disbursements for purchases                October _____________ November  ­­_____________

Cash balanceat the end of                     October _____________ November  ­­_____________

Loan balance at the end of                    October _____________ November  ­­_____________

Operating income for                             October _____________ November  ­­_____________

Cash flow for                                        October _____________ November  ­­_____________

Uncollected balance from sales                                                 November  _____________

Unpaid balance from purchases                                                 November  _____________