1 All of Gaylord Corporation's sales are on account. Thirty-five percent of the sales on account are collected in the month of sale, 45% in the month following sale, and the remainder are collected in the second month following sale. The following are budgeted sales data for the company: Total sales January February March April $50,000 $60,000 $40,000 $30,000 What is the amount of cash that should be collected in March? 2 The BRS Corporation makes collections on sales according to the following schedule: 30% in month of sale 64% in month following sale 6% in second month following sale The following sales have been budgeted: April May June Sales $100,000 $110,000 $100,000 Budgeted cash collections in June would be