3. The projected sales of the company are given below. (The price per unit sold is S10.) Some sales are cash sales while others are credit sales. On average, cash sales represent 40% of the total sales in each month, with the remaining balance going to accounts receivables. Assume that all receivables are collected in the month following the sales. Complete the following cash receipts table. Use the same worksheet from exercise 2. Note: Enter formulas in C 12, 13 and C14. Copy the formulas from column C to columns D thru N. Cash Recelpts Dec Jan Feb MaAp May Jun Jul Aug Sep 0ct Nov Dec 10 Sales (unles 11 Sales (Dollas 1e. 13 Friom Pru. Month's Sale X000 14 Total Cash Receiptex00 00 400 100 500 400 800 1000 3000 3000 1800 500 600 500 000 4000 1000 00 4000 6000 10000 30000 30000 18000 5000 6000 5000 Cash 4. Use the same worksheet from Exercise 3 to create a cash payment chart (from rows 17 through 19). Complete the following cash payment schedule where the monthly materials purchased is $$,000, monthly labor cost is $2,500, and monthly overhead is S1,500. Dec Jan FebMar Apr May JunJl Aug Sep Oa Nav Dec Mateslal Cest 5000 2500 9 Overheard 20 Total 1500 5. Use the numbers provided in exercises 3 and 4 to compute the monthly net cash flow for the months from January thru December (on row 26). Note that net cash flow is cash receipts minus cash payments. Use the same worksheet from exercise 3 and 4. Cash Flaw Cash Recets 2 Tiet Cash Flow Dee Jan Feb Mar Ape May Jun ul Ag Sep Ow Dec Cash Payeents Answers: EXI: C2 uB2, c3100-83 9