Problem 32-Cash Budget The sales forecasts of GMH Company for the first six months as are follows: uary $50,000 April 68,000 February 60,000 May $ 84,000 March54,000 June $74,000 Cash sales are 25% of monthly sales, and credit sales are collected 40% in the month after sale and 60% in the second month after sale. Required (a) How much cash will be collected from customers in April and May? (b) What are the budgeted balances in Accounts Receivable at May 31 and June 30? Accounts Receivable at May 31 Accounts Receivable at June 30 $ $