2. Construct a cash receipts budget for Shalimar Company for each quarter of the next year, showing the cash sales and the cash collections from credit sales. If an amount is zero, enter "O Shalimar Company Cash Receipts Budget Year For the C Quarter 2 arter 4 468,000 529,000 $149,000 Cash sales Received on account from: 796,000 Quarter 3, current year Quarter 4, current year Quarter 1, next year Quarter 2, next year Quarter 3, next year Quarter 4, next year Total cash receipts 3. What if the recession led Shalimar's top management to assume that in the next year 10 percent of credit sales would never be collected? The expected payment percentages in the quarter of sale and the quarter after sale are assumed to be the same. How would that affe received in each quarter? Construct a revised cash budget using the new assumption. Shalimar Company Cash Receipts Budget Cash sales Received on account from 46800052900049000796000 Quarter, current yer Quarter 1, next yeer Quarter 2, next year Quarter 3, next yeor Quarter , next yeer Total cash receipts