$5.($a$)$ The cash budget is indispensable to the financial manager in determining the short$-$term cash needs of the firm and, accordingly, In planning its short$-$term financing. Is the cash budget a better measure of liquidity than traditional measures, such as the current ratio and quick ratio? Explain your reasoning.

$($b$)$ Kiddy Company had credit sales of $$1,000,000,$ $$1,500,000$ and $$800,000$ in October, November and December $2021,$ respectively. The company's credit sales projections for January through March of $2022$ are as follows:

January$-$$$3,000,000$ February$-$$$2,400,000$ March$-$$$2,000,000$

Kiddy Company has normally collected $60\%$ of its credit sales in the month following the sale, $30\%$ in the second following month and $10\%$ in the third month. Assuming this collection pattern continues, prepare a schedule of cash receipts from receivables collection for the period January through March of $2022($for the month of January, February and March$)$