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Budgets Sunshine Corporation has found that 60% of its sales in any given month are credit sales, while the remainders are cash sales. Of theCredit

Budgets

Sunshine Corporation has found that 60% of its sales in any given month are credit sales, while the remainders are cash sales. Of theCredit sales, the company has experienced the following collection

Pattern:

25% received in the month of the sale

50% received in the month after the sale

15% received two months after the sale

10% of the credit sales are never received

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

Were $110,000. Projected sales for the next three months are as follows:

January sales

$ 145,000

February sales

$115,000

March sales

$175,000

Requirement

Prepare a cash collections budget for the first quarter, with a column for each month and for the quarter.

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