Eastern sales are all credit sales. Past collection history indicates that credit sales are collected as follows: 10% in the month of sale 70% in the month following sale 20% in the second month following sale For the upcoming year, sales are budgeted to be as follows: April $45,000 May $50,000 June $40,000 You may want to consider using a chart, like we did in class: April Sales Collected May Sales Collected June Sales Collected Total Calculation How much will cash collections be for June? $8,000 $47,500 $48,000 Collected in June