Rovniak reeds a manufacturer of saxophone oboe and clarinet

Reference no: EM13481254

Rovniak Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $890,000 in October, $950,000 in November, $1,025,000 in december and $920,000 in January. Rovniak's sales are 25% cash and 75% credit. Rovinak's collection history indicates that credit sales are collected as follows: 25% in the month of the sale 65% in the month after the sale 8% two months after the sale 2% are never collected 1. Prepare a sales budget for all four months, showing the breakdown between cash and credit sales. 2. Prepare a cash collections budget for December and January. Round all answers up to the nearest dollar.

Reference no: EM13481254

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