Jellyfish Ltd is a whole seller of seafood. At the beginning of January 2020, its accountant predicted the sales revenue for the coming half-year. The budgeted sales revenue information is as below: Month Jan Feb Mar Apr May Jun Budgeted revenue 54,000 69,000 98,300 39,800 59,700 37,400 Based on past experience, 30% of the sales will be cash sales. For credit sales, 30% will be collected during the month that the sales take place, 65% will be collected in the month after and 5% of credit sales will not be collected and be deemed as bad debts. Required (a) Prepare a schedule of budgeted cash collections from January to June 2020, assuming the business was closed down and no sales were made in December 2019. Month Budgeted Revenue cash sales collection for prior month sales collection of the current month sales Total