Step	Instructions	Points Possible
1	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 Instructions tab or if you type the numbers in, you will be marked wrong.)	12
2	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 Instructions tab or if you type the numbers in, you will be marked wrong. Use cell references from the prior requirement, if applicable.)	10

Total Points

22

1 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 Instructions tab or if you 2 type the numbers in, you will be marked wrong.) Augustine Reeds Sales Budget For the Four Months Ended January \begin{tabular}{c|l|c|c|c|c|} \hline \multicolumn{5}{l}{ For the Four Months Ended January } & \\ \hline 7 & \multicolumn{2}{l|}{ October } & November & December & January \\ \hline 8 & Cash sales & & & & \\ 9 & Credit sales & & & & \\ \hline 10 & Total sales revenue & & & & \\ \hline \end{tabular} 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 Instructions tab or if you 13 type the numbers in, you will be marked wrong. Use cell references from the prior requirement, if applicable.) 14 Augustine Reeds Budgeted Cash Collections from Customers For the Months of December and January Augustine Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be: \begin{tabular}{c|r|c|c|} \hline October & November & December & January \\ \hline$904,000 & $964,000 & $1,045,000 & $936,000 \\ \hline \end{tabular} Augustine's sales are: 20%cash80%credit The company's collection history indicates that credit sales are collected as follows: \begin{tabular}{l|l|l|} \hline 13 & 30% in the month of the sale & \\ \hline 14 & 60% in the month after the sale & \\ \hline 15 & 8% two months after the sale \\ \hline 16 & 2% are never collected \\ \hline \end{tabular} Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the 19 Instructions tab or if you type the numbers in, 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