Part 2: Budgeting 1. WYZ Inc. provided the following information for the 5 months below: 50 April May June July Budgeted sales (5) $12.000 $13.000 $14,000 $15,000 August $16,000 All sales are on account. Cash collections are estimated as follows: 20% during the month of sale; 30% in the month after the sale: 50% in the second month following the sale. (a). Show the calculation of the amount of cash that WYZ Inc. is expected to receive during June from customers. (10 points) April Juno: $2,500 6.000 14.000 0.107 May 12,700 3,900 June 2, 500) (b). Show the calculation of the amount of accounts receivable that WYZ Inc. has on June 30. (10 points) $12,700 $12,000 0.50 6000 + 1,000 - 0.30 - 3,900 & 14.000 0. 20 & 2,800 2. ABC Co. produces and sells canvas gear bags. Budgeted sales amounts for the first 3 months of 2020 appear below: January February March Budgeted sales (units) 26,000 units 27,000 units 28,000 units The company wants to have 10% of the next month's budgeted unit bag sales. Show the calculation of how many gear bags the company should produce during February (20 points)