5 Sales budget Jan Feb March April May June Total sales $50,000 $65,000 $60,000 $55,000 $70,000 $40,000 Less: cash sales 12,500 16,250 15,000 13,750 $17,500 $10,000 Total credit sales $37,500 $48,750 $45,000 $41,250 $52,500 $30,000 Planned collection rates of Credit Sales (i.e., on account sales): Month of 1st month 2nd month Sale after sale after sale 70.00% 15.00% 10.00% What is the beginning balance for the month of April? $14,813 None of the other answers are correct $31,500 $16,125 $40,500 15 pts