QUESTION 22 Incorrect 0.00 points out of 50.00 P Flag question Monthly Cash Budget Sutter, Inc. is a wholesaler for its only product, deluxe wireless rechargeable electric shavers, which sell for $70 each and cost Sutter $48 each. On June 1, 2016, Sutter's management requested a cash buidget for june. The following selected balances at May 31, 2016, were gathered by the accounting department: account Cash $56,000 160,000 2.170.000 576,000 196,800 902,400 600,000 Marketable securities (at cost) Accounts receivable (all trade) Inventories (12,000 units) Operating expenses payable Accounts payable (all merchandise) Note payable (due 12/31/2016) Actual sales for April and May were 30,000 and 50,000 units, respectively. Projected unit sales for June and July are 40,000 and 20,000, respectively. Experience indicates that 50% of sales should be collected in the month of sale, 30% in the month following sale, and the balance in the second month following sale. Uncollectible accounts, returns, and allowances are negligible