Serdnic Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $894,000 in October, $964,000 in November, $1,070,000 in December, and $922,000 in January. Serdnic's sales are 30% cash and 70% credit. The company's collection history indicates that credit sales are collected as follows: 20% in the month of the sale 65% in the month after the sale 14% two months after the sale 1% are never collected

Please do both requirements.

Serdnic Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $894,000 in October, $964,000 in November, $1,070,000 in December, and $922,000 in January. Serdnic's sales are 30% cash and 70% credit. The company's collection history indicates that credit sales are collected as follows: 20% in the month of the sale 65% in the month after the sale 14% two months after the sale 1% 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