Question 3 Safari Tours budgeted sales and supply purchases as follows: Budgeted Sales Budgeted Purchases April $400,000 $ 40,000 May $420,000 $ 50,000 June $440,000 $ 60,000 Instructions: Safari Tours' sales are 40% cash and 60% credit. Credit sales are collected 20% in the month following sale, and 80% in two months following sale. Prepare a cash flow schedule of expected cash collections from customers for June: April May $420,000 June $440,000 Budgeted Sales $400,000 Safari Tours' purchases are 40% cash and 60% on credit. Credits are paid off in full in the month following the purchase. Prepare a schedule of expected payments for June. April $ 40,000 May $ 50,000 June $ 60,000 Budgeted Purchases What is your net cash flow for June