In the coming year, Sheridan, Inc. will be introducing its first product, a wrist brace that protects serious video gamers from repetitive- motion injuries. The brace will be sold for $16.00 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 follows: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Budgeted sales units 27,000 40,000 60,000 73,000 Prepare Sheridan, Inc's cash receipts budget for the coming year. (Enter answers in necessary fields only. Leave other fields blank. Do not enter O. Round "Budgeted sale price" and "Cash Receipts Budgets" answers to 2 decimal places, e.g. 52.75 and all other answers to O decimal places, e.g. 5,275.) Sales Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter udgeted units sold udgeted sales price $ $ $ udgeted sales revenue $ A $ A Cash Receipts Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 1st quarter sales $ 2nd quarter sales 3rd quarter sales 4th quarter sales Totals LA $ $ $ $ $ Determine the Net Accounts Receivable at the end of the year. Net Accounts Receivable $ 1A A