The following relates to the Sung Company: Part I January 8,000 FebruarY 10,000 March 14,000 Budgeted Units Sold Sales are 10% cash and 90% on account. From experience, the company has learned that a month's sales on account are collected according to the following pattern. Month of Sale First month following sale Second month following sale Uncollectable 50% 35% 10% 590 Each unit sold has a sales price of $5 Accounts Receivable at January 1 are: November sales not yet collected December sales not yet collected $ 4,050 36.000 $40,050 Accounts receivable are listed at gross before allowance for doubtful accounts. Required: Develop a sales budget for January, February and March. Calculate the projected cash collections based on the above information. 1. 2