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Engine Corp. has provided the following details concerning budgeted sales: Month Budgeted Sales January 575.000 February $69.000 March $80.000 All sales are made on account.

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Engine Corp. has provided the following details concerning budgeted sales: Month Budgeted Sales January 575.000 February $69.000 March $80.000 All sales are made on account. The collection policy of the company is to collect 20% in the month of sale, 40% in the following month and remaining 40% in the second month after the month of sale. November actual sales were $85.000 and December actual sales were 590.000 Required. Calculate Engine Corp's total cash receipts for each month and total for the first quarter January February and March

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