For most firms, the initial step in the master budget sequence is the Purchases budget. Sales budget. O Cash budget. Some other step. The WRT Corporation makes collections on sales according to the following schedule: 25% in month of sale. 65% in month after sale. 5% in second month after sale. 5% uncollectible. April sales were $120,000; May sales were $100,000; June sales were $110,000 Budget cash collections in June would be: $71,000. O $115,500. O $27,500 $98,500