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Gammaro Corporation has found that 60% of its sales in any given month are credit sales, while the remainder are cash sales. Of the
Gammaro Corporation has found that 60% of its sales in any given month are credit sales, while the remainder are cash sales. Of the November sales for last year were $95,000, while December sales were $110,000. Projected sales for the next three months are as credit sales, Gammaro Corporation has experienced the following collection pattern: 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. $ 150,000 February sales $ 115,000 March sales Requirement $ 180,000 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.)
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