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Mikail Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $898,000 in October, $966,000 in November, $1,040,000 in December, and $928,00 credit sales are collected as follows: 20% in the month of the sale 60% in the month after the sale 12% two months after the sale 8% 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 Requirement 1. Prepare a sales budget for all four months, showing the breakdown between cash and credit sales. aber, $1,040,000 in December, and $928,000 in January. Mikail's sales are 30% cash and 70% credit. The company's collection history indicates that