DUE TONIGHT. I WILL UPVOTE :)

Bentfield 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, Bentfield 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

November sales for last year were $$80,000,$ while December sales were $$115,000.$ Projected sales for the next three months

are as follows:

February sales $.............$ $ $125,000$

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