32. The budget director of Flory's Kitchen Shop has prepared the following sales budget. The company had $100,000 of accounts receivable at January 1. The company normally collects 100 percent of its accounts receivable in the month following the sale. Sales Cash sales Sales on account Total budgeted sales Januar Fel March 30,000 90.000 $120,000 $66,000 20.000 $186,000 $72,000 40.000 $212,000 Schedule of cash rece Current cash sales Plus collection of accounts reccivable Total budgeted cash collections Required: Show your work if you want partial credit. Total points: 24 a. What are the total budgeted cash receipts for the first quarter? b. Determine the amount of accounts receivable that Flory's should report on the first quarter pro forma balance sheet