Haas Company is a retail company that specializes in selling outdoor camping equipment. The company is considering opening a new store on October 1, 2015. The company president formed a planning committee to prepare a master budget for the first three months of operation. As budget coordinator, you have been assigned the following tasks Required a. & b. October sales are estimated to be $250,000, of which 40 percent will be cash and 60 percent will be credit. The company expects sales to increase at the rate of 8 percent per month. The company expects to collect 100 percent of the accounts receivable generated by credit sales in the month following the sale. Prepare a sales budget and a schedule of cash receipts. October November December Sales Budget s 100,000 S 108,000 s 116,640 Cash sales 162,000 174,960 Sales on account 150,000 S 250,000 S 270,000 Total budgeted sales 291,600 Schedule of Cash Receipts 100,000 s 108,000 s 116,640 Current cash sales 0 162,000 Plus collections from AVR 150,000 100,000 258,000 278,640 Total collections