Required: In the space provided under the basic information for the problem create the following: 1. Sales Budget for the year including an annual total 2. Schedule of cash collections for the year, including monthly and annual totals 3. Ending balance of Accounts Receivable Grading You will need to use absolute value functions appropriately I will check your work by inserting new values in the basic information and will expect to see the monthly values adjusted appropriately. You will be graded on your ability to follow instructions, solution accuracy, and professional presentatio Every cell of your assignment must contain either a cell reference or a formula. You may not change anything within the boxed area that contains the basic information. Round your answers to the nearest whole dollar. January March October BASIC INFORMATION Sales in units by month Selling price per unit February 6800 April 9,000 May 8,800 June 7,900 July 6,900 August 10,500 September 9,200 November 5,700 December 4,300 7,000 8,500 6,500 8.50 $ 15% Collection cycle for Sales Cash sales in month Collection of Sales on Account In current month In first subsequent month In second subsequent month Beginning Accounts Receivable balance 35% 50% 15% 54,000 70% of Accounts receivable balance respresents unpaid December sales; 30% represents unpaid November sales. $