Q2) Budgeted sales in Miranda Company over the next four months are given below: September October November December Cash Sales 25,000 50,000 50 000 25,000 Sales on Account 50,000 125,000 125,000 75,000 Total Sales 75,000 175,000 175,000 100,000 Collections for sales on account follow a stable pattern as follows: 20% are collected in the month of sale, 60% are collected in the month following sale, and 20% are collected in the second month following sale. Required: Given the data, prepare a cash collections/receipts budget for the quarter ending December 31 October November December Quarter Total Cash Sales On Account Sales September % of $50,000 September % of $50,000 October % of $125.000 October - % of $125.000 October % of $125,000 November % of $125,000 November % of $125,000 December % of $75,000 TOTAL SALES Receipts