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Y&Z Co had forecasted sales as follows: -April= $406,000 -May= $452,000 -June= $496,000 Sales...

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Accounting

Y&Z Co had forecasted sales as follows:

-April= $406,000

-May= $452,000

-June= $496,000

Sales are 30% credit and 70% cash

50% of the credit sales are collected in the month of the sale, 30% in the month following the sale, and 20% in the following month.

Totals sales for the months of February and March were $900,000 with February having $500,000 credit sales and March $400,000

Prepares a sales budget schedule and a cash collections budget schedule for the months of April, May and June

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