I am having trouble figuring out how to even begin this problem, any assistance would be helpful.

Capes Corporation is a wholesaler of industrial goods. Data regarding the store's operations follow * Sales are budgeted at $390,000 for November, $360,000 for December, and $340,000 for January. * Collections are expected to be 85% in the month of sale, 10% in the moth following the sale, and 5% uncollectible. * The cost of goods sold is 80% of sales. * The company purchases 40% of its merchandise in the month prior to the month of sale and 60% in the month of sale. Payment for merchandise is made in the month following the purchase. * The November beginning balance in the accounts receiveable is $77,000 * The November beginning balance in the accounts receivealbe is $320,000 Required: A: Prepare a Schedule of Expected Cash Collections for November and December B: Prepare a Merchandise Purchases Budget for November and December.