E9-33A (similar to) Question Help Classical Sound, LM, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $4.000 in October, 266,000 in November, $4,000,000 in December, and $38,000 in January. The company's sales are 24% cash and 78% credit, and collection history indicates that credit sales we collected as follows: 22% in the month of the sale 68% in the month afar the sale 8% two months after the sale 2% are never collected Requirements 1. Prepare a sales budget for at four month showing the breakdown between cash and credit ses 2. Prepare a cash collection budget for December and January. Round all answers up to the nearest dollar Requirement 1. Prepare a budget for all four months showing the breakdown between cash and crostate. (Round answers up to the nearest dollar) Classical Sound, Lid Sales Budget October November December January Cash sales $ 214.500 5 229,440 247.2005 225,120 Credin sales 679 440 720,560 782,800 712.10 s 89.000 3 956.000 5 1.030,000 $ 90.000 Total sales Requirement 2. Prepare a cash collection budget for December and January (Round will answers up to the nearest dollar) Classical Bond, Lid. Budgeted Cash Collections from Customers December January Cash sales 247200 Collection of credits Enter any number in the adfolds and then click Checker Clear Al HIR LUTH. W E9-33A (similar to) Question Help Classic Sound, Lod, a manutecturer of saxophone, oboe, and clarinet reeds, nas projected token to be $104.000 neber, 866,900 November 1,000,000 December, and $636,000 in January. The company's sales are 20% cmn and 70% credit, and collection history indicates that credit sales are collected as follows: 22% in the month of the sale 60% in the morth after the sale 8% two months after the sale 2% we never collected Requirements 1. Prepare a sales budget for at four months showing the breakdown between hard credit 2. Prepare a cashflection budget for December January, Round answers to the nearest door 679.440 Credits 720.00 782.800 712.880 894.000 $ 056.000 1030000 Total sales Requirement 2. Prepare a cash collection budget for December and January (Round will answers up to the nearest dollar) Classical Sound, Ltd Budgeted Cash Collections from Customers December January 247200 225120 Cash sales Collection of credit sal 22% of current month credits 68% of prior month or sales 8% of coses two months ago Total colection of creates Total Gath collections Enter any number in the ed fields and then click Check Answer Check Anne CA