Fielding Corporation has found that $70\%$ of its sales in any given month are credit sales, while the

remainder are cash sales. Of the credit sales, Fielding 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 $$95,000,$ while December sales were $$115,000.$ Projected

sales for the next three months are as follows:

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.$)$

Fielding Corporation

Cash Collections Budget

For the Months of January through March