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Ahmed Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $890,000 in October, $968,000 in November, $1,070,000 in December, and 5932,000 in January. Ahmed's sales are 25% cash and 75% credit. Ahmed's collection history indicates that credit sales are collected as follows: 30% in the month of the sale 60% in the month after the sale 8% two months after the sale 2% are never collected Requirements 1. Prepare a sales budget for all 4 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. Ahmed Reeds Sales Budget November October December January Cash sales Credit sales Total sales Requirement 2. Prepare a cash collection budget for December and January. (Round all answers up to the nearest dollar.) Ahmed Reeds Budgeted Cash Collections from Customers December January Cash sales Collection of credit sales 30% of current month credit sales 80% of prior month credit sales 8% of credit sales two months ago Total collection of credit sales Total cash collections