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6. Assume a company is preparing a budget for its first two months of operations. During the month of January and February it expects credit
6. Assume a company is preparing a budget for its first two months of operations. During the month of January and February it expects credit sales of $45,000 and $63,000, respectively. The company expects to collect 45% of its credit sales in the month of the sale and the remaining 55% in the following month. What amount of cash collections from credit sales would the company include in its cash budget for the month of February? What is the budgeted accounts receivable balance at the end of February
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