Question: Dado, Inc. is preparing its budget for the second quarter. The following unit sales are forecasted: Unit sales........ April May June July 640 720 780

 Dado, Inc. is preparing its budget for the second quarter. The

Dado, Inc. is preparing its budget for the second quarter. The following unit sales are forecasted: Unit sales........ April May June July 640 720 780 620 The units will be sold for $50 each. All sales are on account. The company expects to collect 40% of each month's sales in the month of sale and 60% in the month following the sale. In good accounting format, prepare a Sales Budget and related Cash Receipts Budget (prepare as two separate budgets) for May, June, and July

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