Problem 9-34 Relationships of the Master-Budget Components (LO 9-3, 9-5, 9-6) Badlands Inc. manufactures a household fan that sells for $40 per unit. All sales are on account, with 40 percent of sales collected in the month of sale and 60 percent collected in the following month. The data that follow were extracted from the company's accounting records. Badlands maintains a minimum cash balance of $24,000. Total payments in January 20x1 are budgeted at $265,000. A schedule of cash collections for January and February of 20x1 revealed the following receipts for the period: Cash Receipts January February $120,000 140,000 $210,000 68,000 From December 31 accounts receivable From January sales From February sales March 20x1 sales are expected to total 6,500 units. Finished-goods inventories are maintained at 20 percent of the following month's sales. The Necember 31 20v0 halance choot revealed the following calertar finurae rach $22100 accounte raraivahle $170000 and < Prev 6 of 12 Next >