sophone, oboe, and clarinet reeds, has projected sales to be 1002.000 in October, 1054.000 in November, $1.025.000 in December, and ser 78% credit. The company's collection history indicates that credit sales are colected as follows 20% in the month of the sale 70% in the month after the se 8% o months after the sale 2% are never collected Requirements . Prepare a sales budget for all four months, showing the breakdown between cash and credit sales Prepare a cash collection budget for December and January Round all answers up to the nearest dollar equirement 1. Prepare a sales budget for all four months, showing the breakdown between cash and credit sales Leret Reeds Sales Budget For the Four Months Ended January November December sh sales dit sales al sales October January January Leary

FINANCIAL ACCOUNTING
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ISBN:9781259964947
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Chapter1: Financial Statements And Business Decisions
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Leret Resa manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be 1002.000 in October, 1054,000 in November, $1.025.000 in Decenter, and $3.000 January Let's
72% credit. The company's collection history indicates that credit sales are colected as follows:
20% in the month of the sale
70% in the month at the sa
8% two months after the sale
2% 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
Leret Reeds
Sales Budget
For the Four Months Ended January
November
December
Cash sales
Credit sales
Total sales
October
January
Transcribed Image Text:Leret Resa manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be 1002.000 in October, 1054,000 in November, $1.025.000 in Decenter, and $3.000 January Let's 72% credit. The company's collection history indicates that credit sales are colected as follows: 20% in the month of the sale 70% in the month at the sa 8% two months after the sale 2% 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 Leret Reeds Sales Budget For the Four Months Ended January November December Cash sales Credit sales Total sales October January
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