11. LaChut Corporation has found that 80% of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit sales, LaChut Corporation has experienced the following collection pattern November sales for last year were $85,000, while December sales were $110,000. Projected sales for th next three months are as follows: $150,000 $ 115,000 $ 185,000 anuary sales 25% received in the month of the sale 50% received in the month after the sale 15% received two months after the sale 10% of the credit sales are never received February sales... March sales Requirement Prepare a cash collections budget for the first quarter, with a column for each month and for the quarter. (Round your answers to the nearest whole dollar.) LaChut Corporation Cash Collections Budget For the Months of January through March January February March Quarter ,0023,00 30,000 Cash sales Collections on credit sales: 30,000 4,000 30,000 0. 23,000 25% Month of sale 50% Month after 15% Two months after 200 13.200 $ 114.200 89,200 Total cash collections