Mikail Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $890,000 in October, $952,000 in November, $1,065,000 in December, and $930,000 in January. Mikail's sales are 30% cash and 70% credit. The company's collection history indicates that credit sales are collected as follows: View the credit sales collection history, 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. Requirement 1. Prepare a sales budget for all four months, showing the breakdown between cash and credit sales. X Credit sales collection history Mikail Reeds Sales Budget For the Four Months Ended January 25% in the month of the sale October November December January 60% in the month after the sale Cash sales 14% two months after the sale Credit sales 1% are never collected Total sales Print Done