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  3. 1. (cash budget-inflows) a firm has the following

1. (Cash budget-inflows) A firm has the following data for sales: Cash sales Credit sales...

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1. (Cash budget-inflows) A firm has the following data for sales: Cash sales Credit sales Actual: January $25,000 $55,000 February 30,000 60,000 Forecast: March 40,000 80,000 April 35,000 75,000 30,000 70,000 May Past experience is that 35% of credit sales are collected in the month of sale, 50% one month after sale, 13% two months after sale, and the remaining 2% of credit sales becomes bad debts. Prepare a schedule of cash inflows for the months of March, April, and May

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