Prince George's favorite toy is a wooden fire truck created by a small company in London, and given to him by his great grandmother. Seeing an opportunity, a local business man has incorporated the Prince George Toy Company to wholesale the toy to retailers throughout the United Kingdom. He purchases the truck at $4.00 per unit and sells it at wholesale for $10.00 per toy With the Christmas season coming up, the company expects the following pattern of sales into the new year: Units 800 Sales Dollars $8,000 12,000 18,000 14,000 6,000 September October November December January 1,200 1,800 1.400 600 Q5. Cash Receipts (5 marks) Cash sales are 20% of total sales. The remaining sales are made on credit. Historically, 32% of sales are collected in the month after the sale, and the remaining 48% are collected in the second month after the sale. Calculate total cash receipts for November as well as December Monthly Cash Receipts November $18,000 December $14,000 Sales Collections of current sales Collections of prior month's sales Collections of sales 2 months earlier Total collections