Show the formula and the answer, please! Thank you!

Show both the formula and the answer, please! Thank you!

The Master Budget Sales and cash collections budgets Horns and More, Ltd., a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be: October November December January $890,000 $950,000 $1,025,000 $920,000 The company's sales are: 25% cash 75% credit The company's collection history indicates that credit sales are collected as follows: 25% in the month of the sale 65% in the month after the sale 8% two months after the sale 2% are never collected Use the blue shaded areas for inputs. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong. Requirements 1 Prepare a sales budget for all four months, showing the breakdown between cash and credit sales. 2 Prepare a cash collections budget for December and January a. Use cell references from the prior requirement, if applicable. 1. Prepare a sales budget for all four months, showing the breakdown between cash and credit sales. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong.) 2. Prepare a cash collections budget for December and January. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be 5 points