Comprehensive Problem The management team of Magnificent Modems. Inc. (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 S 150.000 Credit sales for January are expected to be $750,000 MMI collects 100 percent of credit sales in the month following the month of sale. Assume a beginning balance in accounts receivable of $720,000. 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 rale of 1 percent are shown as an example. Use the following forms, assuming a growth rate of 2 percent and 4 percent