Print 3. Leret Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $890,000 in October, $952,000 in November, $1,035,000 in December, and $926,000 in January. Leret's sales are 30 % cash and 70 % credit. The company's collection history indicates that credit sales are collected as follows: 20 % in the month of the sale 65% in the month after the sale 12% two months after the sale 3% 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. Requirement 1. Prepare a sales budget for all four months, showing the breakdown between cash and credit sales. Leret Reeds Sales Budget For the Four Months Ended January October November 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. Leret Reeds Budgeted Cash Collections from Customers For the Months of December and January December January Requirement 1. Prepare a sales budget for all four months, showing the breakdown between cash and credit sales. Leret Reeds Sales Budget For the Four Months Ended January January December October November 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. Leret Reeds Budgeted Cash Collections from Customers For the Months of December and January January December Cash sales Collection of credit sales 20% of current month credit sales 65% of prior month credit sales 12% of credit sales two months ago Total collection of credit sales Total cash collections .Leret Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, $926,000 in January. Leret's sales are 30% cash and 70% credit. The 20% in the month of the sale 65% in the month after the sale 12% two months after the sale 3% are never collected Requirements 1. Prepare a sales budget for all four months, showing the breakdown b 2. Prepare a cash collection budget for December and January. Round Requirement 1. Prepare a sales budget for all four months, showing the Leret Reeds Sales Budget For the Four Months Ended January October November December Cash sales Credit sales Total sales Requirement 2. Prepare a cash collection budget for December and Janua Leret Reeds Budgeted Cash Collections from Customers