Fielding 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, Fielding Corporation has experienced the following collection pattern: November sales for last year were $110,000, while December sales were $115,000. P ojected sales for the next three months are as follows: January sales February sales March sales $ 175,000 $ 135,000 $ 185,000 20% received in the month of the sale 40% received in the month after the sale 22% received two months after the sale 18% of the credit sales are never received 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 January February March Quarter Cash sales Collections on credit sales 20% Month of sale 40% Month after 22% Two months after Total cash collections