1. Conning Industries expects credit sales for January, February, and March to be $178,000, $205,000, and $215,000, respectively. It is expected that 60% of the sales will be collected in the month of sale, and 40% will be collected in the following month.

• When typing your responses for amounts, do NOT include a dollar sign. For example, if your answer is $10,000, you should be typing 10,000 or 10,000.00 without any dollar sign.
• For number of units, do NOT include decimal places. For example, if your answer is 5 units, then you should be typing 5 and NOT 5.00.

Compute cash collections from customers for each month.

Collections from Customers
	Collection in January	Collection in February	Collection in March
Credit Sales in January	$	$	$
Credit Sales in February	$	$	$
Credit Sales in March	$	$	$
Total	$	$	$