419 SU2021 V Week-2021 on 12 The following is the sales budget for the given months of P Pte Ltd ed Cash Sales Credit Sales out of on March 140,000 $252,000 April 337,000 5249.000 May 339,000 $226,000 June $56,000 5258 000 July 548,000 $238.000 Additional information to be used determining the expected cash collections each month that will be used in preparing the cash budget The Accounts Receivable balance on March 1 was $67,985 of this amount, $47,985 represented uncollected February sales and $20,000 represented uncollected January sales Collections on Credit sales: 65% in month of sale 30% in month following sale 5% in second month following sale Part 1: What is the expect cash to be collected in March? Part 2: The budgeted Accounts Receivable on July 1 would be: Next page