Bentfield Corporation has found that $60\%$ 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 patter:

$25\%$ 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

November sales for last year were $$85,000,$ while December sales were $$115,000.$

Projected sales for the next three months are as follows:

$\backslash$table$[[$January sales,$$,145,000],[$February sales,$$,120,000],[$March sales,.$$,170,000]]$

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.$)$

Bentfield Corporation

Cash Collections Budget

For the Months of January through March $q,$

January

Cash sales

Collections on credit sales:

$25\%$ Month of sale

$50\%$ Month after

$20\%$ Two months after

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