Raysun Inc, Sells micro solar panels for $1.99 each. The marketing department prepared the following semiannual forecast:

January 30,000 panels

February . 38,000 panels

March 39,000 panels

April . 41,000 panels

May 43,000 panels

June 49,000 panels

Over the past few years Raysun Inc. has collected 25% of sales in the month of sale. 60 % in the month following the month of sale 14% in the second month following month of sale.

Required:

A. Prepare a monthly sale budgets for January through June. Includes a total column.

B. Prepare a monthly cash receipts budget for the second quarter (April, May and June). Include a total column.