Total 200 Let us create the Master Budget for McGraw-Hill Publishers Sales Budget (in thousands) October November December Sales in units 500 2,000 2,700 Selling price $100,00 $100.00 $100.00 $100,00 Total sales $20,000 $50,000 $200,000 $270,000 Cash Collections Budget This is based on Sales. Let's assume that McGraw Hill collects 50% of their revenue in the month of sale, 30% in the month after the sale, and 20% in the second month after the sale. August sales were $240,000 and September sales were $60,000. Please write your answers in each of the appropriate blank boxes below. October November Sales Cash Cash Total A/R at for Month Collections Collections Collections Collections Dec 31 December Cash Aug. Sales 240,000 Sep. Sales 60,000 Oct. Sales 20,000 Nov. Sales 50,000 Dec. Sales 200,000 Total 76,000 43,000 119,000 238,000 110,000