Budgets - Question 1 Franklin Corp. sells glass vases to various florists throughout the country. Each vase sells for 5.50. The following sales forecast (in units) has been prepared for the first six months of 2009: January 3000 February 6000 March 5000 April 3000 May 5000 June 2000 Historically, the cash collection of sales has been as follows: 60 per cent in the month of sale, 35 per cent in the month following sale, and 4 per cent in the second month following sale. The remaining 1 per cent is uncollectible. Required: Prepare a cash receipts budget for the second quarter of 2009 (April through June)