Question (5): First The sales budget for the first quarter as follows: Jan Feb Mar Sales $ 100,000 150,000 50,000 Required: Prepare the Cash Collections Budget from sales if the cash sales are equal 40% of the total sales and the credit sales are equal to 60%, and all credit sales are collected in the next month following the month of sale, and The credit sales for Dec, was equal $ 10,000, 10% uncollectible from the credit sales Answer Second S. Company produces the product X, the data related to sales as follows: Dec Jan Feb Mar Sales units 20000 30000 40000 50000 Unit selling price $ 10 20 20 20 Required: 1- Prepare the Sales Budget for the first quarter: 2-If the collections policy including Monthly sales collected as following a. 30% collected cash at the same month of sale b. The credit sales collected equally in the two months following the month of sale Prepare The cash collections budget for the first quarter