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 fomed 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 $300,000 ofwhich 40 percent will be cash and 60 percent will be credit. The company expects sales to increase at the rate of 20 percent per month. The company expects to collect 100 percent ofthe 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 Cash sales 120,000 172,800 144,000 180,000 259,200 Sales on account 216,000 S 300,000 S S 360,000 432,000 Total budgeted sales Schedule of Cash Receipts 144,000 120,000 Current cash sales 172.800 180,000 Plus collections from A/R 216,000 S 324,000 S 120,000 388,800 Total collections