Berkner Corporation Cash Collections Budget or the Months of January through March

Berkner Corporation has found that 80% of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit sales, Berkner Corporation has experienced the following collection pattern: 25% received in the month of the sale 50% received in the month after the sale 22% received two months after the sale 3% of the credit sales are never received Berkner 'Corporation Cash'ColIections Budget November sales for last year were $85,000, while December sales were $115.000, Projected sales for three months are as follows: January sales. $ 165,000 . $ 130,000 February sales March sales. .... ... Requirement . $ 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 dollar.) For the Months of January through March February January March Quarter Cash sales Collections on credit sales: 25% Month ofsale, 50% Monthafter. 22% Two months after Total cash collections