Empire Records incorpotated 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 compony 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? Empire Records incorpotated 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 compony 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