Brass and More, Ltd., a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $892,000 in October, $954,000 in November , $1,050,000 in December, and $928,000 in January. The company's sales are 20% cash and 80% credit, and collection history indicates that credit sales are collected as follows: 26% in the month of the sale 60% in the month after the sale 10% two months after the sale 4% are never collected Requirements 1. Prepare a sales budget for all four months, showing the breakdown between cash and credit sales. 2. Prepare a cash collection budget for December and January, Round all answers up to the nearest dollar. Requirement 1. Prepare a sales budget for all four months, showing the breakdown between cash and credit sales. (Round all answers up to the nearest dollar.) Brass and More, Ltd Sales Budget October November December January Cash sales Credit sales Total sales Requirement 2. Prepare a cash collection budget for December and January (Round all answers up to the nearest dollar.) Enter any number in the edit fields and then continue to the next question. Requirements 1. Prepare a sales budget for all four months, showing the breakdown between cash and credit sales. 2. Prepare a cash collection budget for December and January. Round all answers up to the nearest dollar. Requirement 2. Prepare a cash collection budget for December and January. (Round all answers up to the nearest dollar.) Brass and More, Ltd. Budgeted Cash Collections from Customers December January Cash sales Collection of credit sales: 26% of current month credit sales 60% of prior month credit sales 10% of credit sales two months ago Total collection of credit sales Total cash collections Enter any number in the edit fields and then continue to the next question. TV