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Trever Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $896,000 in October, 1954.000 in November 51.055,000 in December, and $24,000 in January. Trever's sales are 25% cash and 75% crd The company's collection history indicates that credt sales are collected as follows: 20% in the month of the sale 60% in the month after the sale 12% two months after the sale are never collected Requirements 1. Prepare a sales budget for at four months showing the breakdown between cash and credit sales 2. Prepare a cash collection budget for December and January. Round answers up to the nearest dolar For the Four Months Ended January October November December January Cash sales 224000 238500 263750 Credit sales 672000 Total sales to the nearest dollar. Requirement 2. Prepare a cash collection budget for December and January. Round all answers 20% in the month of the sale 60% in the month after the sale 12% two months after the sale 8% are never collected 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. Budgeted Cash Collections from Customers For the Months of December and January December Cash sales 263750 231000 Collection of credit sales: 20% of current month credit sales 60% of prior month credit sales January Enter any number in the edit fields and then continue to the next question. uuuu, udutului ol saxophone, oboe, and clarinet reeds, has projected sales to be $896,000 in October, $954,000 in November, $1,055, 25% cash and 75% credit. The company's collection history indicates that credit sales are collected as follows: 20% in the month of the sale 60% in the month after the sale 12% two months after the sale 8% are never collected 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. Collection of credit sales: 20% of current month credit sales 60% of prior month credit sales 12% of credit sales two months ago Total collection of credit sales Total cash collections Enter any number in the edit fields and then continue to the next