Make a sales budget for all 4 months, Make a cash collections budget for December and January

B E F G H The Master Budget Sales and cash collections budgets Horns and More, Lid., a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be: October November December January $890,000 $950,000 $1,025,000 $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 8 Use the blue shaded areas for inputs. 9 Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wron 20 Requirements 22 1 Prepare a sales budget for all four months, showing the breakdown between cash and credit sales. 23 2 Prepare a cash collections budget for December and January. 24 a. Use cell references from the prior requirement, if applicable. 25 26 1. Prepare a sales budget for all four months, showing the breakdown between cash and credit sales. 27 (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the 28 Instruction tab you will be marked wrong.) 29 30 2. Prepare a cash collections budget for December and January. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will 5 points 31 be marked wrong. Use cell references from the prior requirement, if applicable.) 32