B E 26 Part 2: (5 marks) 27 All of NFT's sales are on Account. 28 NFT's collection Pattern is: 29 % Type 30 60.00 Collected in the month of sale 31 35.00 Collected in the following month 32 5.00 Uncollectible 33 The June 30th accounts receivable balance of $132,000 will be collected in full. 34 35 Cash Collections 36 37 July August September Quarter 38 39 Accounts Receivable 40 July Sales 41 42 Aug Sales 43 44 Sep Sales 45 46 47 Total Cash Collections 48 49 3 4 7 Units 8 26000 Part 1: (5 marks) 5 NFT is preparing budgets for the Quarter Ending Sept 30th, 2022. 6 Budgted Sales for the next 6 months are: Month July August September October November December 14 Each Unit sells for $30. 9 35000 10 41000 11 15000 12 20500 13 31000 15 16 Sales Budget 17 18 July August September Quarter 19 Sales Budget 20 21 Budgeted Sales In Units 22 Selling Price Per Unit 23 Total Budgeted Sales 26,000 35,000 $ 30.00 $ 30.00 $ $ 780,000.00 $ 1,050,000.00 $ 41,000 30.00 $ 1,230,000.00 $ 102,000 30.00 3,060,000.00 24 Budgets