=+d Total SGA expenses are equal to 10% of the current month’s sales plus $2500 of depreciation. Sixty per cent of SGA expenses are paid in the month incurred and the remainder in the following month.

Actual and projected sales are:

($) Units March 177 000 11 800 April 181 500 12 100 May 178 500 11 900 June 171 000 11 400 July 180 000 12 000 August 183 000 12 200 412 Chapter 10: Master budget and responsibility accounting M10_HORN3377_02_LT_C10.indd 412 2/09/13 3:46 PM Required Prepare the following schedules for Tomlinson Retail for May 2014:

1 a schedule of cash collections 2 a schedule of cash payments collections.