A The Master Budget B D E F G H Sales and cash collections budgets Horns and More, Ltd., a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be: October $890,000 November December $950,000 $1,025,000 January $920,000 The company's sales are: 25% cash 75% credit The company's collection history indicates that credit sales are collected as follows: 25% in the month of the sale 65% in the month after the sale 8% two months after the sale 2% are never collected , 3 5 3 Use the blue shaded areas for inputs. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong. Requirements 1 Prepare a sales budget for all four months, showing the breakdown between cash and credit sales. 2 Prepare a cash collections budget for December and January a. Use cell references from the prior requirement, if applicable. 51. Prepare a sales budget for all four months, showing the breakdown between cash and credit sales. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the B Instruction tab you will be marked wrong.) 9 2 2. Prepare a cash collections budget for December and January. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be 5 points 3