ammaro Corporation has found that 80% of its sales in any given month we credit sales, while the remainder are cash sales. Of the credit sales, ammaro Corporation has experienced the following collection pattern. 25% received in the month of the sale 50% received in the month after the sale 16% received two months after the sale 9% of the credit sales are never received November sales for last year were $100,000, while December sales were $110,000. Projected sales for the next three months are as follows January sales......... $ 180.000 February sales $ 130,000 $ 200,000 March sales. 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) Cash sales Collections on credit sales: 25% Month of sale 50% Month after 16% Two months after Total cash collections Gammaro Corporation Cash Collections Budget For the Months of January through March January February March Quarter