The following trial balance was drawn from the records of Havel Company as of October 1, 2018:

Cash	$16,000
Accounts Receivable	60,000
Inventory	40,000
Store Equipment	200,000
Accumulated Depreciation		$76,800
Accounts Payable		72,000
Line of Credit Loan		100,000
Common Stock		50,000
Retained Earnings		17,200
Totals	316,000	316,000

1) Based on the following information, prepare a sales budget and a schedule of cash receipts for October, November, and December. Sales for October are expected to be $180,000, consisting of $40,000 in cash and $140,000 on credit. The company expects sales to increase at the rate of 10 percent per month. All accounts receivable are collected in the month following the sale.