Jokers' Co. budgets $1,000,000 for sales made.
Customers have 3 months to pay the entire bill. Payments received are as follows: 1st month 30% 2nd month 40% 3rd month 25% Estimated uncollectible 5% 100% Jokers' pays $300,000 per month for direct materials, and $500,000 for direct labor. a) budgeted cash received each month from January to June. b) budgeted cash paid per month from January till June. c) whether cash or line of credit for each month is needed. Also state when to wait or pay for materials. d) the budgeted income statement. e) why there are differences between the income statement and cash budget (reconciliation). This was how the question came. Note: Please put answers in a table form. thanks.