Refer to the Grippers cash collections from customers budget that

Refer to the Grippers cash collections from customers budget that you prepared in Short Exercise S22- 17. Now assume that Grippers’ sales are collected as follows:

60% in the month of the sale

30% in the month after the sale

8% two months after the sale

2% never collected

Prepare a revised schedule for the budgeted cash receipts for January and February.