Aa Aa E. 11. Budgeting for cash Which of the following statements are true with regard to a cash budget? Check all that apply Cash budgets provide less specific financial information than the percentage-of-sales method and the statement of cash flows. Acash budget provides information about a company's ability to repay its loans or meet its other obligations. Cash budgets can be used to plan, coordinate, and control a firm's activities. The three sections of a cash budget, in order, are the cash collections schedule, the disbursements schedule, and the cash balance reconciliation. Assume that Morgan Co. has the following accounts receivable pattern 80% Month of sale Month following the sale 20% All sales are on credit. If sales in November and December are budgeted to be $300,000 and $400,000, respectively, the cash expected to be collected in December is