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Nyered Marked out of 400 gen Cash Receipts The sales budget for Perrier Inc is forecasted as follows: Month Sales Revenue May $100,000 June 180.000 ky 190.000 120.000 To prepare a cash budget, the company must determine the budgeted cash collections from sales. Historically the following trend has been established regarding cash collection of sales: 60 percent in the month of sale . 20 percent in the month following sale. 15 percent in the second month following sale 5 percent uncollectible The company gives a 1 percent cash discount for payments made by customers during the month of sale. The accounts receivable balance on April 30 is $23,000, of which 58.000 represents uncollected March sales and $15,000 represents uncollected April sales. (Hint: For collections of March and April recewables, sort by determining total sales for the month. Assume the normal tales pattern) Prepare a schedule of budgeted cash collections from sales for May, June, and juy. Include a three month summary of estimated cash collections Perrier, Inc. Schedule of Budgeted Cash Collections Quarterly by Months May June July Total Total Cash