ABC company has projected sales. February, P10,000, March, P9,000, April, P8,000, May, P10,000, and June, P11,000. ABC company has 30% cash sales and 70% sales on account. Accounts are collected 40% in the month following the sale and 55% collected in the second month. What would be the total cash receipts in May? Select the correct response P 3,000 88,150 P 8,705 None of the above Which of the following is a difference between a static budget and a flexible budget? Select the correct response: A flexible budget includes only variable costs; a static budget includes only fixed costs A flexible budget includes all costs; a static budget includes only fixed costs A flexible budget gives allowances for different levels of activity while a static budget does not None of the above