1. XYZ Company's sales budget for the first three months of upcoming year as follows: Month January February March Total Budgeted Sales (Tk.) 500,000 700,000 600,000 1,800,000 From the past experience, the company has learned that 60% of a month's sale is collected in the month of sale and 30% is collected in the first month following the sale and rest 10% in the second month following sale. Estimated sale of November and December of current year totaled 300,000 Tk. and 400,000 Tk. respectively