Master Budgeting (Chapter 8) The following budget is for 15 Tor Apricot Company, a merchandising firm: Cash Sales Credit Sales Jan $20,000 40,000 May Feb $15,000 30,000 Mar $12,000 24,000 Apr $18,000 36,000 $22,000 44,000 Selling price is $5 per unit a) Credit sales are collected: 40% in the month of sale 50% in the month following sale 10% in 2nd month after sale cash collections during April should be 14400 +2oou The budgeted accounts receivable on Feb 28 should be 3000 Bou Any month's ending inventory is 30% of the following month's sales. The desired ending inventory for the month of April should be 2960 units The units that should be purchased during the month of April are unit