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Cash Budget Aragon and Associates has found from past experience that 25% of its services are for cash. The remaining 75% are on credit. An

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Cash Budget Aragon and Associates has found from past experience that 25% of its services are for cash. The remaining 75% are on credit. An aging schedule for accounts recevable reveals the following pattern: a. Ten percent of fees on credit are collected in the month that service is rendered. b. Sixty percent of fees on credit are collected in the month following service. c. Twenty-six percent of fees on credit are collected in the second month following service. d. Four percent of fees on credit are never collected Fees (on credit) that have not been paid until the second month following performance of the legal service are considered overdue and are subject to a 3% late charge. Aragon has developed the following forecast of fees: May $180,000

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