3. Prepare a cash budget given the following data: Budgeted sales for: April 25,000 units May 70,000 units June 50,000 units The selling price is $25 per unit. April May June Quarter 70,000 50,000 145,000 Budgeted sales 25,000 in units Selling price $25 $25 $25 $25 per unit $1,750,000 $1,250,000 $3,625,000 Total budgeted $625,000 sales All sales are on account 60% collected in the month of the sale 40% collected in the month following the sale In April, the 31 March accounts receivable balance of $45,000 will be collected in April. Expected Cash Collection: Construct a cash collection schedule for April, May, June and a total for the Quarter. April May June Quarter 2 A/R 31 March 45,000 45,000 April Sales May Sales June Sales Totals