Calculate the amount of sales and cash receipts for the months of February and March assuming a growth rate of 2 percent and 4 percent. The results at a growth rate of 1 percent are shown as an example. Cash sales Sales on account Total budgeted sales Sales Budget January $ 110,000 550,000 February $111,100 555,500 $ 660,000 March $112,211 561,055 $ 666,600 $ 673,266 Schedule of Cash Receipts January February March 110,000 111,100 112,211 528,000 550,000 555,500 638,000 661,100 667,711 k Current cash sales Plus collections from accounts receivable Total budgeted collections ces Use the following forms, assuming a growth rate of 2 percent and 4 percent. Complete this question by entering your answers in the tabs below. 2 percent 4 percent Calculate the amount of sales and cash receipts for the months of February and March assuming a growth rate of 2 percent. Sales Budget January Growth rate of 2% February March Cash sales Sales on account Total budgeted sales 110,000 550,000 $ 660,000 Schedule of Cash Receipts Growth rate of 2% January February March Current cash sales $ 110,000 Plus collections from accounts receivable Total budgeted collections 528,000 E 638,000 4 percent > B3 Requirea Calculate the amount of sales and cash receipts for the months of February and March assuming a growth rate of 2 percent and 4 percent. The results at a growth rate of 1 percent are shown as an example. Cash sales Sales on account Total budgeted sales Sales Budget January $110,000 550,000 February $111,100 555,500 March $112,211 561,055 $ 660,000 $ 666,600 $ 673,266 Ok Schedule of Cash Receipts January February March Current cash sales 110,000 111,100 112,211 Plus collections from accounts receivable Total budgeted collections 528,000 550,000 555,500 638,000 661,100 667,711 Use the following forms, assuming a growth rate of 2 percent and 4 percent nces Complete this question by entering your answers in the tabs below. 2 percent 4 percent Calculate the amount of sales and cash receipts for the months of February and March assuming a growth rate of 4 percent. Sales Budget January Growth rate of 4% February March Cash sales Sales on account $ 110,000 550,000 Total budgeted sales $ 660,000 Schedule of Cash Receipts Growth rate of 4% January February March Current cash sales $ 110,000 Plus collections from accounts receivable 528,000 Total budgeted collections $ 638,000 < 2 percent k nces The management team of Munoz Modems, Incorporated (MMI) wants to investigate the effect of several different growth rates on sales and cash receipts. Cash sales for the month of January are expected to be $110,000. Credit sales for January are expected to be $550,000. MMI collects 100 percent of credit sales in the month following the month of sale. Assume a beginning balance in accounts receivable of $528,000. Required Calculate the amount of sales and cash receipts for the months of February and March assuming a growth rate of 2 percent and 4 percent. The results at a growth rate of 1 percent are shown as an example. Cash sales Sales on account Total budgeted sales Sales Budget January $110,000 550,000 February $111,100 555,500 March $112,211 561,055 $ 660,000 $ 666,600 $ 673,266 Schedule of Cash Receipts January February March 110,000 111,100 112,211 528,000 550,000 555,500 638,000 661,100 667,711 Current cash sales Plus collections from accounts receivable Total budgeted collections Use the following forms, assuming a growth rate of 2 percent and 4 percent Complete this question by entering your answers in the tabs below. 2 percent 4 percent Calculate the amount of sales and cash receipts for the months of February and March assuming a growth rate of 2 percent. Sales Budget Growth rate of 2% January February March $ 110,000 $ 550,000 660,000 Cash sales Sales on account Total budgeted sales Schedule of Cash Receipts Growth rate of 2% January February March W 1