Freddie Reeds, a manufacturer of saxophone, oboe, and clarinet reods, has projected sales to be $900,000 in October, $960,000 in Novernber, $1,025,000 in December, and $936,000 in January. Freddie's sales are 20% cash and 80% credit. The company's collection history indicates that credit sales are collected as follows: 25% in the month of the sale 60% in the month after the sale 8% two months after the sale 7% are never collected Requirements 1. Propare a sales budget for all four months, showing the breakdown between cash and credit sales. 2. Prepare a cash collection budget for December and January. Round all answers up to the nearest dollar. Requirement 1. Prepare a sales budget for all four months, showing the breakdown between cash and credit sales. Freddie Reeds Sales Budget For the Four Months Ended January