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Safari Q Search Apple Music o For You a Browse Radio Library o Recently Ad o Artists o Albums o Songs Playlists HOT GIRL S In My Room Mood. Now Rap Life Scream it Summer Untitled Pla File Edit View History Bookmarks Window Help e ezto.mheducation.com Logins I Alvernia University Week 7 Exercises O Question 2 - Week 7 Exercises - Connect Question 14 - Comprehensive Problem - Connect Saved Wed 7:30 PM Homework Help - Q&A from Online Tutors - Course He... -k Help Save & Exit Submit Check my work 25 points eBook Print References Graw Exercise 9-28 Using Budgets for Financial Planning (LO 9-2, 9-5, 9-7) Sound Investments, Inc., is a large retailer of stereo equipment. The controller is about to prepare the budget for the first quarter of 20x2. Past experience has indicated that 70 percent of the store's sales are cash sales. The collection experience for the sales on account is as follows: 85 percent during month of sale 10 percent during month following sale 5 percent uncollectible The total sales for December 20x1 are expected to be $201,000. The controller feels that sales in January 20x2 could range from $111,000 to $171,000. Required: 1. Demonstrate how financial planning can be used to project cash receipts in January of 20x2 for three different levels of January sales. Use the following columnar format. Total Sales in January, 20x2 111,000 $ 141,000 $ 171,000 Cash receipts in January 20x2: From December sales on account From January cash sales From January sales on account Total cash receipts < Prev tv S 2 Next