Knobbles Company's budget committee provides the following information: (Click the icon to view the information.) Read the requirements

Knoles Company's budget committee provides the following information: (Click the icon to view the information.) Read the Leguirements_ Requirement 1. Prepare the schedule ot cash receipts trom customers for January and February 2018. Assume cash receipts are 80% in the month of the sale and 20% in the month following the sale. Knobbles Company Budgeted Cash Receipts trom Customers TWO Months Ended February 28, 2018 January Current month sales, 80% Prior month sales, 20% Total cash receipts February Data table December 31, 2017, account balances: Casn Accounts Receivable Merchandise Inventory Accounts Payable Salaries and Commissions Payable Budgeted amounts for 2018: Sales, all on account Purchases, all on account Commissions Expense Salaries Expense Rent Expense Depreciation Expense Insurance Expense Income Tax Expense January $ 83,000 $ 40,200 4,150 4,000 2,800 600 200 1 ,800 18,000 20,000 23,000 15,000 2,800 February 85,300 41 ,400 4,265 4,000 2,800 600 200 1 ,800