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Also I need the same process for February, March and Quarter. Samson Corporation has found that 70% of its sales in any given month are

image text in transcribedAlso I need the same process for February, March and Quarter.

Samson 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, Samson Corporation has experienced the following collection pattern: November sales for last year were $100,000, while December sales were $125,000. Projected sales for the next three months are as follows: 25% received in the month of the sale 50% received in the month after the sale 20% received two months after the sale 5% of the credit sales are never received January sales February sales March sales $ 155,000 s $ 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.) For the Months of January through March January Cash sales Collections on credit sales: 25% Month of sale 50% Month after 20% Two months after Total cash collections

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