*Exercise 5-21 Your answer is partially correct. Try again. In the coming year, Oriole, Inc. will be introducing its first product, a wrist brace that protects serious video gamers from repetitive-motion injuries. The brace will be sold for $20 to retailers throughout the country. All sales will be made on account. An expected 75% of sales will be collected within the quarter of the sale, and another 20 % in the quarter following the sale. The remaining 5% of credit sales are expected to be uncollectible. The sales budget for the coming year is as follows: 1st Quarter 25,200 2nd Quarter 41,000 3rd Quarter 52,600 4th Quarter 86,000 Budgeted sales units Prepare Oriole, Inc.'s, cash receipts budget for the coming year. (Enter answers in necessary fields only. Leave other fields blank. Do not enter O.) Sales Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Annual 25200 41000 452600 36000 204800 125200 Budgeted units sold Budgeted sales price Budgeted sales revenue $1504000) 5820000 $1052000 51720000 54096000) Cash Receipts Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Bad Debts 1st quarter sales 2nd quarter sales 3rd quarter sales 378000 5100809 7615000 h 5 57378000 715800 1789000 164000 789000 5 5953000 1290000 2 5200 41000 210400 52600 1290000 164500 $1500400 183300 4th quarter sales Totals Determine the Net Accounts Receivable at the end of the year. Assume that no accounts have been written off during the year. 548800 Net Accounts Receivable $l