Question 6: Master Budgeting Time: 40 minutes Total: 24 marks The following information pertains to Stark Corporation Jan Feb Mar Apr May June $30,000 34,000 38.000 42.000 48.000 60,000 $10,000 12.000 14.000 16.000 18.000 20,000 Cash is collected from customers in the following manner 30% Month of sale Month following sale Two months following sale Amount uncollectible SOX 15% 5% * Customers paying in the month of sale receive a 2% cash discount. 40% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month. Prepare a summary of cash collections for the 2nd quarter. marks)