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Help Gustav Roads, a manufacturer of saxophone, oboo, and clarinet reeds, has projected sales to be $898,000 in October, 1960,000 in November, $1,055,000 in December,
Help Gustav Roads, a manufacturer of saxophone, oboo, and clarinet reeds, has projected sales to be $898,000 in October, 1960,000 in November, $1,055,000 in December, and $922,000 in January. Gustov's sales are 20% cash and 80% credit. The company's colection history indicates that credit sales are collected as follows: 25% in the month of the sale 60% in the month after the sale 10% two months after the sale 5% are never collected Requirements 1. Prepare 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
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