E9-28A (similar to) Question Help o Alderman Corporation has found that 60% of its sales in any given month are credt sales, while the remainder are cash sales of the credit sales, Alderman Corporation has experienced the following collection pattern November sales for last year were $80,000, while December sales were $110,000. Projected sales for the next three months are as follows: 20% received in the month of the sale 40% received in the month after the sale 24% received two months after the sale 16% of the credit sales are never received January sales... $ 165,000 February sales... $ 115,000 March sales $ 195,000 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.) Alderman Corporation Cash Collections Budget For the Months of January through March January Art Cash sales Collections on credit sales: 20% Month of sale 40% Month after 24% Two months after So Total cash collections