Serdnic Reeds, a manufacturer o saxophone, obce, and clarinet eeds, has projected sales to be S9 8,000 in October $962,000 in November, $1,060,000 in December and S924 000 n January. Ser nics sales are 20% cash and 80% credit. The company's collection history indicates that credit sales are collected as follows: 25% in the month of the sale 60% in the month after the sale 10% two months after the sale 5% are never collected Requirements 1. Prepare a sales budget for all four months, showing the breakdown between cash and credit sales. 2. Prepare a cash collection budget for December and January. Round all answers up to the nearest dollar. Requirement 1. Prepare a sales budget for all four months, showing the breakdown between cash and credit sales. Serdnic Reeds Sales Budget For the Four Months Ended January October November December January Cash sales Credit sales Total sales Requirement 2. Prepare a cash collection budget for December and January. Round all answers up to the nearest dollar Serdnic Reeds Budgeted Cash Collections from Customers For the Months of December and January Enter any number in the edit fields and then continue to the next