2 punts Save Answer QD1. XX company has budgeted sales revenues as follows: Budgeted Sales Revenues January $55,000 February 75,000 March 90,000 April 80,000 May 60,000 35,000 if you know that 80% of sales each month are on credit while 20% are cash sales. Past experience indicates that collection of credit sales occurs as follows: 60% in the month of sale, 30% in the month following the sale, and 10% in the second month following the sale. Assume no Accounts Receivable on January 1st. The total cash receipt in February is: $ June