In the coming year, Sheridan, Inc. will be introducing its first product, a wrist brace that protects serious video gamers from repetitivemotion injuries. The brace will be sold for $11.00 to retailers throughout the country. All sales will be made on account. An expected 65% of sales will be collected within the quarter of the sale, and another 30% in the quarter following the sale. The remaining 5% of credit sales are expected to be uncollectible. The sales budget for the coming year is as follovs: Prepare Sheridan, Inc.'s cash receipts budget for the coming year. (Enter answers in necessary fields only. Leave other fields blank. Do not enter 0. Round "Budgeted sale price" and "Cash Receipts Budgets" answers to 2 decimal places, eg. 52.75 and all other answers to 0 decimal places, e.g. 5,275.) Sales Budget 2nd Quarter 3rdQuarter 4th Quarter Annual 22,000 342,000 $ 5 5 Determine the Net Accounts Receivable at the end of the year