Fox Trail Center's sales are all made on account. The firm's collection experience has been that 31% of a month's sales are collected in the month the sale is made, 50% are collected in the month following the sale, and 17% are collected in the second month following the sale. The sales forecast for the months of May through August is as follows: May June July August $244,000 288,000 323,000 371,000 Required: Calculate the cash collections that would be included in the cash budgets for July and August. Cash collections July August ABC Company's actual unit sales in the current year for January, February, and March was 16,400, 13,400, and 19,400 units, respectively. Current year selling price is $100. An analysis of general economic trends and specific initiatives at ABC forecasts increases for the coming budget year: sales volume by 10% and sales price by 5%. Required: Prepare ABC Company's budgeted unit sales and total sales volume for the first quarter of the coming year. January February March Total % % % % Current sales (units) Budgeted volume increase Budgeted sales (units) Budgeted selling price Budgeted total sales $ 0 $ 0 $ 0 $ 0