E9-28A (similar to) 3 Question Help St. Germaine 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, St. Germaine Corporation has experienced the following collection pattern: November sales for last year were $105,000, while December sales were $110,000. Projected sales for the next three months are as follows: 25% received in the month of the sale 50% received in the month after the sale 24% received two months after the sale 1% of the credit sales are never received January sales 155,000 February sales S 115,000 March sales ... S 180.000 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.) St. Germaine Corporation Cash Collections Budget For the Months of January through March January 90000 X Cash sales Collections on credit sales: X Give it another try. 25% Month of sale 90000 50% Month after 180000 The cash sales amounts you have entered is incorrect. Carefully check your calculations and try your answer again. 24% Two months after 86400 Total cash collections 356400 OK Enter any number in the edit fields and then click Check Answer. ? 3 parts Clear All Check Answer remaining