Budget B C D E F G H 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 8 The company's sales are: 9 25% cash 10 75% credit 17 12 The company's collection history indicates that credit sales are collected as follows: 13 25% in the month of the sale 14 65% in the month after the sale 15 8% two months after the sale 16 2% are never collected 17 18 Use the blue shaded areas for inputs. 19 Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be 20 21 Requirements 22 1 Prepare a sales budget for all four months, showing the breakdown between cash and credit sales. 23 2 Prepare a cash collections budget for December and January. 24 Use cell references from the prior requirement, if applicable. 25 26 1. Prepare a sales budget for all four months, showing the breakdown between cash and credit sales. 27 (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the 28 Instruction tab you will be marked wrong.) 29 30 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 31 be marked wrong. Use cell references from the prior requirement, if applicable.) 32 33 34 Horns and More, Ltd 35 Sales Budget 36 For Months October Through January October November December January 37 38 Unit Sales