Yung Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be 5906.000 in October, $950,000 in November, $1.035,000 in December, and indicates that credit sales are collected as follows 255 in the month of the sale 30 in the month after the sale 12 two months after the sale are never cobected 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 newest dollar Requirement 1. Prepare a sales budget for all four months showing the breakdown between cash and credit sales Yung 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 Yung Reeds Budgeted Cash Collections from Customers Enter any number in the edit fields and then continue to the next question ober, S460,000 in November $1,035,000 in December, and $934.000 in January Yung's sales are 30% cash and 70% credit. The company's collection titory ales est dollar 60% in the month after the sale 12% two months after the sale E3% are never collected Requirements 2 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 2. Prepare a cash collection budget for December and January, Round all answers up to the nearest dolla Yung Reeds Budgeted Cash Collections from Customers For the Months of December and January December January Cash sales Collection of credit sales 25% of current month credit sales 60% of prior month credit sales 12% of credit sales two months ago Total collection of credit sales Total cash collections Enter any number in the edit fields and then continue to the next