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Leret Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be...

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Accounting

Leret Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $908,000 in October, $966,000 in November, $1,055,000 in December, and $934,000 in January. Leret's sales are 20% cash and 80% credit. The company's collection history indicates that credit sales are collected as follows:
25% in the month of the sale
60% in the month after the sale
10% two months after the sale
5% are never collected
Requirements
Prepare a sales budget for all four months, showing the breakdown between cash and credit sales.
Prepare a cash collection budget for December and January. Round all answers up to the nearest dollar.
Requirement 1. Prepare a sales budget for all four months, showing the breakdown between cash and credit sales.
Leret Reeds
Sales Budget
For the Four Months Ended January
\table[[Cash sales],[],[Credit sales,,,,],[,,?bar(C),,]]
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