Anderson 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, Anderson Corporation has experienced the following collection pattern: 20% received in the month of the sale 40% received in the month after the sale 22% received two months after the sale 18% of the credit sales are never received November sales for last year were $100,000, while December sales were $110,000. Projected sales for the next three months are as follows: \begin{tabular}{|c|c|c|} \hline January sales. &.$ & 150,000 \\ \hline February sales & $ & 115,000 \\ \hline March sal & s & 190,000 \\ \hline \end{tabular} Requirement Prepare a cash collections budget for the first quarter, with a column for each month and Anderson Corporation Cash Collections Budget For the Months of January through March Cash sales January Collections on credit sales 20% Month of sale 40% Month after 22% Two months after