Part 5: Based on the data presented in the Unit VII Spreadsheet Template in Excel (Cash Budget tab), calculate the cash receipts for the first quarter of this year.

Complete your calculations by filling in the highlighted cells, and embed a copy of the completed spreadsheet into this report. Discuss your observations about the way cash is collected if the company needs $150,000 per month for expenses.

Cookie Business The budgeted credit sales are as follows: \begin{tabular}{|l|l|rr} \hline 6 & & \\ \hline 7 & December last year & $ & 250,000 \\ \hline 8 & January & $ & 125,000 \\ \hline 9 & February & $ & 300,000 \\ \hline \end{tabular} Collection: \begin{tabular}{ll|l} \hline 12 & Collection: & 80% \\ \hline 13 & Month of the sale & 20% \end{tabular} Estimated cash receipts \begin{tabular}{l|l|l|l|l|} \hline 17 & \multicolumn{1}{c|}{ January } & February & March \\ \hline 18 & Last month's sales & & & \\ \hline 19 & Current month's sales & & & \\ 20 & Total & & & \\ \hline 21 & & & & \\ \hline \hline \end{tabular}