1. Cash receipts budget

The director of budgeting for Bond Products is beginning the process of preparing a cash budget for each month of the coming year. The sales forecast for the month of January is as follows:

Estimated cash sales	$90,000
Estimated sales on account	$680,00

In the past, the accounts receivable orginating from credit sales have been collected in the following pattern:

In the month of sale................................. 15%

In the first month following the sale......... 50%

In the second month following the sale... 25%

Written off as uncollectible.......................10%

Credit sales in the last two months of the current year, some of which remain uncollected at year-end, were as follows:

November	$580,000
December	$730,000

Compute the amount of cash expected to be collected from customers in January of the coming year.