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Dado, Inc. is preparing its budget for the second quarter. The following unit sales are forecasted: Unit sales........ April May June July 640 720 780

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Dado, Inc. is preparing its budget for the second quarter. The following unit sales are forecasted: Unit sales........ April May June July 640 720 780 620 The units will be sold for $50 each. All sales are on account. The company expects to collect 40% of each month's sales in the month of sale and 60% in the month following the sale. In good accounting format, prepare a Sales Budget and related Cash Receipts Budget (prepare as two separate budgets) for May, June, and July

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