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Please show all your work and ensure to answer all parts of the question for...

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Accounting

Please show all your work and ensure to answer all parts of the question for a good rating. Thank you!
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7. (3 pts) Cash flow is critical to the proper operation of a business. At a minimum, the monthly cash coming in must equal or exceed the cash outflow. To make good business decisions, an accurate budget is vital. Given the following forecast sales for each month, give the estimated total cash to be collected for the two listed months. Cash sales for the month is estimated at 60% of Forecast Sales. The remaining 40% of Monthly Cash sales are paid with credit over the succeeding two months. 70% of the credit sales are paid in the following month and 27% are paid in the second month. 3% don't pay and these sales are considered uncollectable. Fill in all the underlined spaces. Jan 70K Feb 85K Mar 80K Apr May 85K Forecast Sales 95K Cash Sales for the month Credit Collection from previous month Credit Collection from 2 months previous Total Cash Collected for the month

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