Example Exercise 22-6 Cash Budget Obj. 5 Landon Awards Co. collects 25% of its sales on account in the month of the sale and 75% in the month following the sale. If sales on account are budgeted to be $100,000 for March and $126,000 for April, what are the budgeted cash receipts from sales on account for April? Follow My Example 22-6 Collections from March sales (75% x 5100,000). Collections from April sales (25% x 5126,000) Total receipts from sales on account April $ 75,000 31,500 $106,500 Practice Exercises: PE 22-6A, PE 22-68 PE 22-6B Cash budget OBS Magnolia Candle Inc. pays 10% of its purchases on account in the month of the purchase and 90% in the month following the purchase. If purchases are budgeted to be $11.900 for March and $12,700 for April, what are the budgeted cash payments for purchases on account for April