25% of Hilltop Clinic patients pay at the time of service, 50% pay the following month (30 days), 25% pay the second month (60 days) following the service. Hilltop's recent and projected sales are: November December January February March April May $500,000 $300,000 $500,000 $400,000 $600,000 $700,000 $500,000 Hilltop's expenses are: Rent 10,000/month Utilities 1,000/month 4 Nurses 80,000/year each 3 Administators 45,000/year each 4 physicians 200,000/year each Supplies 10% of the previous month's sales All fixed expenses are paid monthly. a) Create a cash budget for Hilltop for January through May 2022 b) What is Hilltop's average collection period? c) What is Hilltop's receivables balance as of March 31, 2022 (at the close of business) (calculated manually) d) If Hilltop's average daily sales are $16,667 (assuming a 360 day year) what is their approximate receivables balance? (using the ACP* ADS formula)? Bonus: Explain why the answer from D is different than the answer calculated in C