Sales for the first quarter of 2020 are expected to be 6,200 units, and sales are expected to grow at a rate of 11% of the previous quarter's sales for all of 2020. Selling price is expected to remain constant at $55 per unit.

2) Based on past experience, sales are expected to be 35% cash sales, and 65% sales on account. Sales on account are expected to be collected in full in the quarter following the quarter of sale. Accounts receivable are expected to be $187,500 at the start of the first quarter in 2020.

What is the formula for calculating quarterly budget with an increase in sale of 11%. Please this assignment is due soon. Thanks