ACG 2071 - Journal Exercise CHAPTER ] Budgeting Edwin Company sells beach towels . Unit sales projections for the upcoming two months are as follows . Edwin sells each towel at a price of $15 . Month Sales Projections in Units May 18 , 000 June 21, 000 Edwin expects that 75% of sales will be for cash and 25*^ will be on account . The company expects to collect Look of the accounts receivable generated by credit sales in the month following the sale . Sales on account for the month of April were $54, 000 . Prepare a Sales Budget . Step 1: Sales Budget Calculations May Calculations* JUNE Section 1 - Projected Sales Cash Sales Sales on Account Total Budgeted Sales Section 2 - Schedule of Cash Receipts Current Cash Sales Plus : Collection of ACCTs Receivable Total BudgetEd Collections