Rovniak Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $898,000 in October $952,000 in November, $1.040.000 in December, and $922.000 in January. Rovniak's sales are 30% cash and cash and 70% credit. The company's collection history indicates that credit sales are collected as follows: 25% in the month of the sale 65% in the month after the sale 8% two months after the sale 2% are never collected Prepare a sales budget for all four months, showing the breakdown between cash and credit sales. Prepare a cash collection budget for December and January. Round all answers up to the nearest dollar. Prepare a sales budget for all months, showing the breakdown between cash and credit sales. Prepare a cash collection budget for December and January. Round all answers up to the nearest dollar. Rovniak Reeds Budgeted Cash Collections from Customers For the Months of December and January Cash sales Collection of credit sales 25% of current month credit sales 65% of prior month credit sales 8% of credit sales two months ago Total collection of credit sales Total cash collections