Question: Tudor personalizes scrapbooks for customers using their digital photographs. Each scrapbook sells for $50. Tudor collects cash at the time of sale from 30% of

Tudor personalizes scrapbooks for customers using their digital photographs. Each scrapbook sells for $50. Tudor collects cash at the time of sale from 30% of customers. Of the remaining sales, 75% are collected in the month of sale and 25% are collected in the month following the sale. The sales budget for the first six months (two quarters) of the year is as follows:

January - $120,000.

February - $110,00.

March - $110,000.

April - $112,000.

May - $115,000.

June - $125,000.

Required:Prepare Tudor's cash receipts budget for the second quarter.

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