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Monty, Inc. has budgeted sales revenues as follows: Past experience indicates that 60% of the credit sales will be collected in the month of sale

image text in transcribed Monty, Inc. has budgeted sales revenues as follows: Past experience indicates that 60% of the credit sales will be collected in the month of sale and the remaining 40% will be collected in the following month. Purchases of inventory are all on account with 50% is paid in the month of purchase and 50% paid in the month following purchase. Budgeted inventory purchases are as follows: Monty, Inc. has budgeted sales revenues as follows: Past experience indicates that 60% of the credit sales will be collected in the month of sale and the remaining 40% will be collected in the following month. Purchases of inventory are all on account with 50% is paid in the month of purchase and 50% paid in the month following purchase. Budgeted inventory purchases are as follows

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