I do not understand how to do this in an excel spreadsheet

\fThese templates are supplied to ensure you answer all parts of the assignment and obtain the maximum possible points. Use Excel formulas for your math. This will show me how you came up with your answer and if it is incorrect, I can place my cursor on the cell and see where you went wrong and point you in the right direction. Learning Excel is part of this course and a percentage of your grade each week as well as accounting format. Please see the sample grading rubric in the Add-Ons section for more information on how your grade is determined. If you have any questions, please send me an email. I will respond within 24 hours. I normally check my emails twice a day so rarely will it take that long. Professor D dstrawser@my.gcu.edu E22-24 Prepare a sales budget and a production budget for Gorman for April, May, and June. Solution: GORMAN COMPANY Sales Budget For the Three Months Ended June 30 April May June Total Budgeted packages to be sold 5,500 5,950 6,400 17,850 Sales Price per package x $35 x $35 x$35 x$35 total sales $192,500 $ 208,250 $ 224,000 $ 624,750 GORMAN COMPANY Production Budget For the Three Months Ended June 30 April May Budgeted packages to be sold 5,500 5,950 Plus: Desired packages in ending inventory 595 640 Total packages needed 6,095 6,590 Less: Packages in beginning inventory 125 595 Budgeted packages to be produced 5,970 5,995 Month April May June 10% 10% 10% 10% Next month's sales 5,950 packages 6400 packages 6850 packages = = = = June 6,400 685 7,085 640 6,445 Total 17,850 685 18,535 125 18,410 Desired packages in ending inventory 595 640 685 E22-27 Requirements 1. Prepare a schedule of cash receipts for Armand for January, February, and March. What is the balance in Accounts Receivable on March 31? 2. Prepare a revised schedule of cash receipts if receipts from sales on account are 60% in the month of the sale, 30% in the month following the sale, and 10% in the second month following the sale. What is the balance in Accounts Receivable on March 31? Solution: Requirement 1 Schedule of Cash Receipts from Customers January February March Total Requirement 2 Revised Schedule of Cash Receipts from Customers January Accounts Receivable balance, March 31: FebruaryCredit sales (40%), 10% collected in April March March Total February March Total E22A-34 Prepare a selling and administrative expense budget for each of the three quarters of 2016 and totals for the nine-month period. Solution: STEWART, INC. Selling and Administrative Expense Budget Nine Months Ended September 30, 2016 Quarter Ended Mar. 31 Jun. 30 Sep. 30 Variable expenses: Commissions Expense Miscellaneous Expenses Total variable expenses Fixed expenses: Rent Expense Salaries Expense Depreciation Expense Total fixed expenses Total S&A expenses Nine-Month Total P22-57 Requirements 1. Prepare Daniels Consulting's cash budget for January and February 2013. 2. How much cash will Daniels borrow in February if cash receipts from customers that month total $30,000 instead of $55,000? Solution: Requirement 1 DANIELS CONSULTING, INC. Cash Budget For the Two Months Ended February 28, 2018 January February Total Requirement 2 February Revised