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QUESTION 13 James Corp. reported the following information for 2023: October November December Budgeted Sales $1,200,000 $1, 120,000 $1,400,000 * All sales are on credit * Sales on account are collected 50% in the month of sale and 50% the following month How much cash will James Co. receive in November? O $1,260,000 O $560,000 O $1, 160,000 O $1, 120,000 QUESTION 14 The first budget to be prepared in the budget process is the O direct labor budget O sales budget production budget O cash receipts and cash disbursements budget