Q1 Excelsior Manufacturing Company requires a budget outlining the cash collections for February 2021. The following data has been made available: a. Sales: December January February 38,900 53,000 72,600 Cash sales are expected to be 10% of total sales. Credit sales are expected to be collected as follows: 40% in the month of sale 30% in the second month 28% in the2nd month following sale b. Opening cash balance is $7,360 and net accounts receivable is $50,537 c. Sold a used truck for $2,800 and purchased a forklift for $12,000. Required: Show your calculations or use formulae 1. Calculate the total cash collections for February. 2. Calculate the ending balance in net Accounts Receivable at February 28th