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The Red Zone plans to open a new restaurant in Clarksville in January. They expect to sell 5700 meals in May and 6000 in June

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The Red Zone plans to open a new restaurant in Clarksville in January. They expect to sell 5700 meals in May and 6000 in June and 7,200 in July at an average price of $11 each. They expect to collect 85% of sales during month of sale and the remaining 10% the month after sale. There will be no accounts receivable on May 1. Complete the sales budget and schedule of cash collections below: Show calculations: May June July Units Sold Average Sales Price Dollar Sales Schedule of Cash Collections From May From June From July Total Cash Collected each month How much will not be collected by the end of July and is expected to be received in August? Show calculation with

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