Question: Claude, at Basic Industries (from Chapter 13), is ready now to do his cash budget. In Claudes case, his sales were fixed at $600,000 per

Claude, at Basic Industries (from Chapter 13), is ready now to do his cash budget. In Claude’s case, his sales were fixed at $600,000 per month, but he does anticipate landing another contract for an additional $30,000 in the second month of the quarter (February). 30% of his customer pay cash up front with their orders; 40% pay the following month and the last 30% pay within two months. Assume that he has no interest or other income at this time. Construct his monthly cash collection table through the first quarter.

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