Alderman Corporation has found that $70\%$ of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit sales, Alderman Corporation has experienced the following collection pattern:

$20\%$ received in the month of the sale

$40\%$ received in the month after the sale

$24\%$ received two months after the sale

$16\%$ of the credit sales are never received

November sales for last year were $$105,000,$ while December sales were $$110,000.$ Projected sales for the next three months are as follows:

January sales $...........$$ $165,000$

February sales $..........$ $$125,000$

March sales $.............$$$185,000$

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.$)$

Alderman Corporation

Cash Collections Budget

For the Months of January through March $q,$ January

Cash sales $$

Collections on credit sales

$20\%$ Month of sale

$40\%$ Month after

$24\%$ Two months after $$

Total cash collections $$