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?

Answer is not complete.

Complete this question by entering your answers in the tabs below.

Req$$ired $A$

Required B

Complete the sales budget by filling in the missing amounts.

$\backslash$table$[[$Sales Budget,January,February,March$],[$Cash sales,$$70,000,73,500,],[$Sales on account,$105,000,,],[\backslash$table$[[$Total budgeted$],[$sales$]],175,000,73,500,0]]$