Please include all of the formula for the excel document! Thanks

The Master Budget
Sales and cash collections budgets
Augustine Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be:
		October	November	December	January
		$904,000	$964,000	$1,045,000	$936,000
Augustines sales are:
		20%	cash
		80%	credit
The companys collection history indicates that credit sales are collected as follows:
		30%	in the month of the sale
		60%	in the month after the sale
		8%	two months after the sale
		2%	are never collected

Step	Instructions	Points Possible
1	1. Prepare a sales budget for all four months, showing the breakdown between cash and credit sales. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong.)	12
2	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 be marked wrong. Use cell references from the prior requirement, if applicable.)	10

Total Points

22

1 1. Prepare a sales budget for all four months, showing the breakdown between cash and credit sales. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be e marked wrong.) Augustine Reeds Sales Budget For the Four Months Ended January October November December January 3 Cash sales e Credit sales 0 Total sales revenue 2 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 be 3 marked wrong. Use cell references from the prior requirement, if applicable.) 8 January Augustine Reeds Budgeted Cash Collections from Customers For the Months of December and January Month December o Cash sales in current month 1 Collection on credit sales: 2 Credit sales from current month 3 Credit sales made one month ago 4 Credit sales made two month ago 5 Total cash collections