Leret Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $ 904 comma 000 in October, $ 962 comma 000 in November, $ 1 comma 070 comma 000 in December, and $ 920 comma 000 in January. Leret's sales are 25% cash and 75% credit. The company's collection history indicates that credit sales are collected as follows: 20% in the month of the sale 65% 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. October November December January Cash sales Credit sales Total sales Requirement 2. Prepare a cash collection budget for December and January. Round all answers up to the nearest dollar. Leret Reeds Budgeted Cash Collections from Customers For the Months of December and January December January Cash sales Collection of credit sales: 20% of current month credit sales 65% of prior month credit sales 10% of credit sales two months ago Total collection of credit sales Total cash collections Enter any number in the edit fields and then continue to the next question.