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Brandon Wholesalers has found that 81% of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit
Brandon Wholesalers has found that 81% of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit sales, Brandon Wholesalers has experienced the following collection pattern: - 22% paid in the month of the sale. - 44% paid in the month after the sale - 21% paid two months after the sale - 13% of the sales are never collected November sales for last year were $79,000, while December sales were $119,000. Projected sales for the next three months are as follows: \begin{tabular}{ll} \hline January sales . . . . . . . . . . . . $ & 163,000 \\ February sales . . . . . . . . . . . & 123,000 \\ March sales. . . . . . . . . . . . & 178,000 \\ \hline \end{tabular} Requirement Prepare a cash collections budget for the first quarter, with a column for each month and for the quarter. Complete the following cash collections budget. (Round your answers to the nearest whole dollar.)
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