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 B

What are the expected total cash receipts for the month of February?

$\backslash$table$[[$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,$]]$

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.

$\backslash$table$[[$Sales Budget,,nuary,February,March$],[$Cash sales,$$,60,800,,],[$Sales on account,,$120,000,,],[$Total budgeted sales,,$180,800,0,0]]$