Empire Records Incorporated is a music retail store that began operations on January 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 will remain stable from January through March. The company expects 50% of the sales on account to be collected in the month of sale with the remaining 50% collected in the month following the sale Required: a. Complete 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 answers in the tabs below. Required A Required B Complete the sales budget by filling in the missing amounts. Sales Budget January February March. Cash sales $ 68,000 Sales on account 128.000 Total budgeted sales 196,000 0 3 Regulad A Required B > Empire Records Incorporated is a music retail store that began operations on January 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 will remain stable from January through March. The company expects 50% of the sales on account to be collected in the month of sale with the remaining 50% collected in the month following the sale. Required: a. Complete 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 answers in the tabs below. Required A Required B What are the expected total cash receipts for the month of February? Cash collections in February from January sales on account Cash sales in February Cash collections from February sales on account Total cash collections in February