Robert and Gwen are partners in a new superannuation search business called Super Lost and Found. Super Lost and Found, which begins operations in December, finds lost accounts from superannuation companies where the super fund no longer knows the current contact details of the holder/(s) of the superannuation policy. Robert estimates that the employees of Super Lost and Found will spend 500 hours in December, 700 hours in January, 800 hours in February and 725 hours in March working on finding current contact information for Super Lost and Found's clients. Super Lost and Found will bill each of its clients at the end of the month, charging \(\$ 400\) per hour spent working for that client during the month. On average, 60 per cent of the billings for any month will be collected during the following month, 25 per cent during the second month following the billing, and 15 per cent during the third month following the billing.

Required:

Prepare a sales budget and expected cash collection schedule for Super Lost and Found for the quarter (January through March).