1. Sales data-the company's sales for December 2019 was $1,000,000. It is expected that sales will increase by 10% each month over the previous month for the quarter ending March 31, 2020. Whereas Sales for April 2020 are expected to increase by 5% over March sales. NB: Accounts Receivable 320,000 Collections - credit sales are typically 80% of total sales. Outstanding amounts from sales are normally collected as follows: I 60% during the month of sale 40% during the month after sale 111 1V