Section 2: Budgeting Systems and "Variance Analysis Port I The manager of The Bookstore is updating their budget for the upcoming two months, November and December. The following information is available: The follovving balances are expected fer the end of this month (31 October): cash 3:140:000; accounts receivable $220,000; accounts payable $30,000 and unpaid expenses $15,000- The manager separately estimated that 90% of the amount outstanding from customers at the end of this month is to be collected in November and the remainder uncollectable. 60% of monthly sales are on credit. Typically receipts from credit customers are approximately 50% in the month of sale, 48% in the month following the sale, and the remainder is uncollectable. Projected balances for the next two months are as follows: The Bookstore has placed an order for new furniture in November that will cost $40,000. The scheduled payment date is in January next year. 40% of goods purchased are paid for in the month of purchase and the remaining is paid in the following month- Salaries are paid before the end of each month. 50% of other monthly expenses are paid for in the month incurred and the remainder paid in the following month. Required: Prepare the schedule of cash payments for November and December