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Gustev Reeds, a manufacturer of Saxophone, oboe, and clarinet reeds has projected sales to be 8896000 in October $964,000 in Novembor. $1.025.000 in December collection history indicates that credit sales are collected as follows 25% in the month of the sale 60% in the month after the sale 12% two months after the sale 3% 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 Reque. PL GURLU DUYULUI VULTUS DU JY ISU IUBIRISE Gustev Reeds Budgeted Cash Collections from Customers For the Months of December and January December January Cash sales 86016 Collection of credit sales 250 to bo $896,000 in October $964,000 in November, $1,025,000 in December and $920,000 in January Gustow's sales are 20% cash and Boscut. The company's edit sales nearest dollar WV15 | | | | | | | | | | | | OG Requirement 1. Prepare a sales budget for all four months, showing the breakdown between cash and credit sales Gustev Reeds Sales Budget For the Four Months Ended January October November December January Cash sales $ 179,200 $ 192,800 $ 205,000 $ 184,000 716,800 771,200 820,000 736,000 Credit sales 896,000 $ 964,000 $ 1,025 000 $ 920,000 Total sales Requirement 2. Prepare a cash collection budget for December and January Round all answers up to the nearest dollar Gustev Reeds Budgeted Cash Collections from Customers Help me solve this Video Get more help Requirement Propa LSI LULUDII Duyut 01 LULUI nu Juudiy RUHU and UTS UP I UPUTS na Gustev Reeds Budgeted Cash Collections from Customers For the Months of December and January December 86016 January Cash sales 462,720 Collection of credit sales 25% of current month credit sales 60% of prior month credit sales 12% of credit sales two months ago Total collection of credit sales Total cash collections 92,544 205000 548736 297544 Help me solve this Video Get more help