%E9-31A (similar to) Question Help Trever Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $908,000 in October, 5966,000 in November, $1,070,000 in December, and $920,000 in January, Trever's sales are 30% cash and 70% credit. The company's collection history indicates that credit sales are collected as follows: 20% in the month of the sale 65% in the month after the sale 12% two months after the sale 3% 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 Trever Reeds Sales Budget For the Four Months Ended January October November December January Cash sales 5 272.400 $ 289,800 $ 321,000 $ 276.000 Credit sales 635,000 676,200 740,000 644.000 Total sales 908,000 $ 966.000 $ 1.070,000 $ 920,000 Requirement 2. Prepare a cash collection budget for December and January, Round all answers up to the nearest dollar Trever Reeds Rudinand Cash Callertinne fram mare Enter any number in the edit fields and then click Check Answer. EY-STA (similar to) Question Help Trever Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $900,000 in October, $966,000 in November. $1.070,000 in December, and $920,000 in January, Trever's sales are 30% cash and 70% credit. The company's collection history indicates that credit sales are collected as follows: 20% in the month of the sale 65% in the month after the sale 12% two months after the sale 3% are never collected Requirements 1. Prepare 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 dolor January Trever Reeds Budgeted Cash Collections from Customers For the Months of December and January December Cash sales Collection of credit sales: 20% of current month credit sales 65% of prix month credit sales 12% of credit al two months ago Total collection of credit sales Total cash collections Enter any number in the edit fields and then click Check Answer All parts showing Clear All