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ork 4 of 4 (4 complete) Data Table December 31, 2017, account balances: 15,000 20,000 17,000 13,000 3,000 Cash Accounts Receivable Merchandise Inventory Accounts Payable Salaries and Commissions Payable February January Budgeted amounts for 2018 84,600 41,100 4,230 6,500 2,200 500 200 1,600 84,000 S 40,400 4,200 6,500 2,200 500 200 1,600 Sales, all on account Purchases, all on account Commissions Expense Salaries Expense Rent Expense Depreciation Expense Insurance Expense Income Tax Expense Print Done Omaha Company's budget commitee provwides the folowing information EE Click the icon to view the information.) Read the requrements Requirement 1. Prepare the schedule of cash receipts from customers for January and February 2018. Assume cash receipts are 80% in the month of the sale and 20% in the month following the sale Omaha Company Budgeted Cash Receipts from Customers Two Months Ended February 28, 2018 January February Current month sales, 80% Por month sales, 20% Total cash receipts Omaha Company Budgeted Cash Receipts from Customers Two Months Ended February 28, 2018 February January $ 67,200$67,680 Current month sales, 80% Prior month sales, 20% Total cash receipts Requirement 2. Prepare the schedule of cash payments for purchases for January and F 16,800 20,000 87,200 S 84,480 Omaha Company Budgeted Cash Payments for Purchases Two Months Ended February 28, 2018 February January 70% of last month's purchases 30% of current month's purchases Total cash payments for purchases

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