Brief Exercise 14-2 (Algo) Sales budget and cash receipts LO 14-2 Empire Records incorporated is a music retall store that began operations on fanuary 1, Year 1 . The company has budgeted sales as indicated in the following table. The company expects a 5 percent increase in sales per month for February and March. The ratio of cash sales to sales on account wat remain stable from Januscy through March. The comptny expects 50 s of the rales on account to be collected in the month of sale with the remaining 50% collected in the morth following the sale. Required: a. Complote the sales budget by filling in the missing amounts b. What are the expected total cash receipts for the month of February? Complete this question by entering your aniswers in the tabs below. What are the expected total cash recepts for the month of February? Brief Exercise 14-2 (Algo) Sales budget and cash receipts LO 14-2 Empire Records incorporated is a music retall store that began operations on fanuary 1, Year 1 . The company has budgeted sales as indicated in the following table. The company expects a 5 percent increase in sales per month for February and March. The ratio of cash sales to sales on account wat remain stable from Januscy through March. The comptny expects 50 s of the rales on account to be collected in the month of sale with the remaining 50% collected in the morth following the sale. Required: a. Complote the sales budget by filling in the missing amounts b. What are the expected total cash receipts for the month of February? Complete this question by entering your aniswers in the tabs below. What are the expected total cash recepts for the month of February