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,

Fielding

Corporation has experienced the following collection pattern:

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

$105,000,

while December sales were

$115,000.

Projected sales for the next three months are as follows:

January sales. . . . . . . . . . . . . . .	$145,000
February sales. . . . . . . . . . . . . .	$130,000
March sales. . . . . . . . . . . . . . . .	$190,000

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.)

Fielding 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, Fielding Corporation has experienced the following collection pattern: 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 $105,000, while Decomber sales were $115,000. Projected sales for the next three months are as follows: January sales $ 145.000 February sales $ 130,000 March sales $ 190,000 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.) Fielding Corporation Cash Collections Budget For the Months of January through March January Cash sales Collections on credit sales: 25% Month of sale 50% Month after 20% Two months after Total cash collections