ABC Corporation is compiling their cash budget. They have the following information Month Budgeted Sales Revenue Actual Sales Reverwe November $ 115,000.00 December $ 135,000.00 January $ 105,000.00 February $ 120,000.00 March $ 115,000.00 They Expect 75% of sales to be COD. Of the credit sales, they expect 25% to be collected in the month of sale, 45% in the month after sale and 27% to be collected in the second month after the sale. The remainder will not be collected. Prepare a Cash Collections budget for ABC Corporation for the first 3 months of 2020 (10 marks) 2 A- B 1 TE ABC Corporation Cash Collections Budget For the Year 2020 Cash on Delivery January February Collections March Quarter 4 Total Cash Collections