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1. You are preparing a cash budget for A&M Inc. for the first quarter of 2012. You have summarized the following information. A&M Inc. Cash

1. You are preparing a cash budget for A&M Inc. for the first quarter of 2012. You have summarized the following information. A&M Inc. Cash Budget Worksheet First Quarter, 2012 December January Estimated Sales $825,000 $610,000 Estimated Credit Sales 750,000 550,000 Estimated Receipts: Cash sales 60,000 Collections of Accounts Receivable 75% of last month

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