Najimi Enterprises recently began selling on the internet. Internet sales for the fourth quarter of Year 1 totaled \( \$ 649,000 \). The company's internet sales are expected to grow at a rate of \( 20 \% \) per quarter. All sales are made on account. The company's collection. experience is that \( 70 \% \) of accounts receivable will be collected in the quarter of sale and \( 30 \% \) in the next quarter. The balance in accounts receivable at the end of December Year 1 was \( \$ 173,000 \). Required: a. Prepare a sales budget for internet sales for the four quarters of Year 2; include a total column that shows total budgeted internet sales for the year. b. Compute the accounts receivable balance as of the end of Year 2. c. Prepare a cash receipts schedule for all four quarters of Year 2 and the year as a whole.

Najimi Enterprises recently began selling on the internet. Internet sales for the fourth quarter of Year 1 totaled $600,000, The company's internet sales are expected to grow at a rate of 20% per quarter. All sales are made on account. The company's collection experience is that 70% of accounts recelvable will be collected in the quarter of sale and 30% in the next quarter. The balance in accounts receivable at the end of December Year 1 was $150,000. Required: a. Prepare a sales budget for internet sales for the four quarters of Year 2 ; include a total column that shows total budgeted internet sales for the year. b. Compute the accounts receivable balance as of the end of Year 2. c. Prepare a cash receipts schedule for all four quarters of Year 2 and the year as a whole. Complete this question by entering your answers in the tabs below. Prepare a cash recelpts schedule for all four quarters of Year 2 and the year as a whole