need help please

Cash Receipts Budget and Accounts Recelvable Aging Schedule Shalimar Company manufoctures and sells industrial products. For next year, Shalimar has budgeted the following sales: In Shalimar's experience, 10 percent of sales are paid in cash. Of the sales on account, 65 percent are collected in then quarter of sale, 25 percent are collected in the quarter following the sale, and 7 percent are collected in the second quarter affer the sale, The remaining 3 percent are never collected, Total sales for the third quartethe current year are $4,900,000 end for the fourth quarter of the curfent year are $6,850,000. Required: 1. Calculate cash saies and credit saies expected in the last two quartes of the current yes, and in each quarter of next year. 2. Construct a cash recelpts budget for Shalimar Company for each quarter of the next vear, showing the cash sales and the cash collections from credit sales. If an amount is rero, enter " 0 ". 3. What if the recession led Shalimar's top management to assume that in the next year 10 percent of credit sales would never be collected? The expected payment percentages in the quarter of sale and the quarter after sale are assumed to be the same. How would that affect cash recelved in cach quarter? Construct a revised cash budget using the new assumption