Exercise 27 Casa Development, Inc. has budgeted sales revenues as follows Budgeted Sales Revenues January February March April May une $55,000 75,000 80,000 60,000 35,000 Past experience has indicated that 80% of sales each month are on credit and that collection of credit sales occurs as follows: 60% in the month of sale, 30% in the month following the sale and 59 in the second month following the sale. The other 5% is uncollectible