Question $2$

Langly Company has projected sales and production in units for the second quarter of the coming year as

follows:

All units are sold at $$16$ each. Cash collections from sales are budgeted at $60\%$ in the month of sale, $30\%$ in the

month following the month of sale, and the remaining $10\%$ in the second month following the month of sale.

Accounts receivable on April $1$ totaled $$520,000($$$100,000$ from February's sales and the remainder from

March$).$

Prepare a sched $1^$le for each month showing budgeted cash receipts for Langly Company.