Question 1 O pts Jsing the following, completed, Sales Budget, which of the following statements is false? SALES BUDGET Unit Sales Selling Price Revenue June 6,000 50 $ 300,000 July 7,000 $ 50 $ 350,000 August 8,000 $ 50 $ 400,000 September Quarter 9,000 24,000 $ 50 $ 50 $ 450,000 $ 1,200,000 Cash Sales Credit Sales Revenue $ 150, poo $ 150,000 $ 300,000 $ 175,000 $ 175,000 $ 350,000 $ 200,000 $ 200,000 $ 400,000 $ 225,000 $ 600,000 $ 225,000 $ 600,000 $ 450,000 $ 1,200,000 $ 150,000 $ 175,000 $ 200,000 $ 225,000 $ 600,000 $ 37,500 $ 112,500 $ $ $ 150,000 $ 43,750 $ 131,250 $ $ 175,000 Cash Collections from Cash Sales Cash Collections from June Cash Collections from July Cash Collections from August Cash Collections from September Total Cash X $ 50,000 $ 150,000 $ 200,000 X X $ 56,250 $ 56,250 $ 187,500 $ 331,250 $ 381,250 $ 431,250 $ 1,143,750 Cash Sales Credit Sales Revenue $ 150,000 $ 150,000 $ 300,000 $ 175,000 $ 175,000 $ 350,000 $ 200,000 $ 200,000 $ 400,000 $ 225,000 $ 600,000 $ 225,000 $ 600,000 $ 450,000 $ 1,200,000 $ 150,000 $ 175,000 $ 200,000 $ 225,000 $ 600,000 $ 37,500 $ 112,500 $ $ $ $ 150,000 $ 43,750 $ 131,250 $ ta $ $ 175,000 Cash Collections from Cash Sales Cash Collections from June Cash Collections from July Cash Collections from August Cash Collections from September Total Cash Collections X $ 50,000 $ 150,000 $ $ 200,000 X X X $ 56,250 $ 56,250 $ 187,500 $ 331,250 $ 381,250 $ 431,250 $ 1,143,750 Othere is an error in June Cash Collections for the Quarter the company expects half of sales to be cash and half to be credit the company collects 50% of credit sales in the same month the sale is made O the company collects less cash than revenue in each month shown