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Sheffield/Neff, Ltd. personalizes scrapbooks for customers, using their digital photographs. Each scrapbook sells for $45....

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Accounting

Sheffield/Neff, Ltd. personalizes scrapbooks for customers, using their digital photographs. Each scrapbook sells for $45. Sheffield/Neff collets cash at the time of sale from 30% of customers. Of the remaining sales, 75% are collected in the month of sale and 25% are collected in the month following the sale. The sales budget for the first six months of the year is as follows:
\table[[,January,February,March,April,May,June],[Budgeted sales,$114,000,$104,000,$104,000,$106,000,$109,000,$119,000n
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