|Problem 2-The Budget|
|Part 1-Cash Budget|
|97% of sales are credit sales. Accounts Receivable are collected at 35% of sales|
|the month of sale, 40% the following month, and 25% the third month.|
|Sales for January:||$475,000|
|Sales for February:||525,000|
|Sales for March||532,000|
|Sales for April||516,000|
|Prepare cash collections for March and April|
|From sales in||Total||% Collected||March||April|
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