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4. 25 pts Thirsty Inc. sells plastic water bottles to outdoor enthusiasts for $1.25 each. The company's marketing director prepared the following sales forecast (in
4. 25 pts Thirsty Inc. sells plastic water bottles to outdoor enthusiasts for $1.25 each. The company's marketing director prepared the following sales forecast (in units) for the first half of the year: January February March April May June Total 150,000 125,000 180,000 165,000 165,000 155,000 940,000 Historically, the cash collection of sales has been as follows: 55 percent of sales collected in the month of sale, 35 percent of sales collected in the month following the sale, and 9 percent of sales collected in the second month following the sale. The remaining 1 percent is never collected and must be written off. Required: Prepare a cash receipts budget for each month of the second quarter, i.e. April, May and June
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