E9-27A (similar to) Question Help Samson Corporation has found that 60% o its sales in any given month are credit sales, while the remainder are cash sales. Of the credit sales, Samson Corporation has experienced the following collection pattern: 80,000, while December sales were $110,000. Pro ected sales or the next three November sales months are as follows: or last year were 145,000 120,000 175,000 January sales 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 February sales March sales 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.) Samson 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 15% Two months after Total cash collections