Horns and More, Ltd., a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be: October $890,000 November December $950,000 $1,025,000 January $920,000 The company's sales are: 25% cash 75% credit The company's collection history indicates that credit sales are collected as follows: 25% in the month of the sale 65% in the month after the sale 8% two months after the sale 2% 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 collections budget for December and January