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: 25% received in the month of the sale 50% received in the month after the sale 18% received two months after the sale 7% of the credit sales are never received

November sales for last year were $ 80,000, while December sales were $ 120,000. Projected sales for the next three months are as follows:

January sales. . . . . . . . . . . . . . . . $145,000

February sales. . . . . . . . . . . . . . . $135,000

March sales. . . . . . . . . . . . . . . . . $170,000

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

	January
Cash sales
Collections on credit sales:
25% Month of sale
50% Month after
18% Two months after
Total cash collections