parlee Company’s sales are 20% in cash and 80% on credit. 55% of the credit sales are collected in the month of sale, 20% in the month following…

parlee Company’s sales are 20% in cash and 80% on credit. 55% of the credit sales are collected in the month of sale, 20% in the month following sale, and 20% in the second month following sale. The remainder are uncollectible. The following are budgeted sales data: