Benfeld 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, Bentfield Corporation has experienced the following collection pattem 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 $105,000, while December sales were $115,000 Projected sales for the next three months are as follows January sales February sales March sales Requirement $185,000 $ 125.000 $ 190,000 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 dotac Cash sales Collections on credil sales 20% Morth of sale 05 Month aer 24% Two months after Tutations Bentfield Corporation Cash Collections Budget For the Months of January through March January