2. Past experience has demonstrated that 55% of the net sales billed in a month are collected during the month, 35% are collected in the following month and 9% are collected in the second following month. Customers are allowed a 3% discount if payment is made within 5 days after the billing date. 65% of the customers that pay in the month of the sale, pay within 5 days and take the discount A sales budget for the four months ending June 30 is as follows: (10 pts.) -41 Month Units I Selling Price March 30,000 $5.2014 April 50,000 5.2011 May 80,000 5.60 June 40,000 5.60 Required: Prepare a cash receipts budget for May and June