Alderman 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, 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 $ 85,000, while December sales were $ 130,000.

Projected sales for the next three months are as follows:

January sales . . . . . . . . . . . . . . . . $155,000

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

March sales . . . . . . . . . . . . . . . . . $165,000

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.)

	January
Cash sales
Collections on credit sales:
20% Month of sale
40% Month after
24% Two months after
Total cash collections

(Fill out chart for January then continue to February, March and Quarter Totals)