Gammaro 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, Gammaro Corporation has experienced the following collection pattern:

$25\%$ received in the month of the sale

$50\%$ received in the month after the sale

$20\%$ received two months after the sale

$5\%$ of the credit sales are never received

November sales for last year were $$110,000,$ while December sales were $$130,000.$ Projected sales for the next three months are as follows:

$\backslash$table$[[$January sales,dotsdots.$$,150,000],[$February sales,dotsdots.$$,135,000],[$March sales,dotsdotsdots$$$,185,000]]$

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.$)$

Gammaro Corporation

Cash Collections Budget

For the Months of January through March

$\backslash$table$[[,$January$],[$Cash sales,$],[$Collections on credit sales:,$26,250],[25\%$ Month of sale,$],[50\%$ Month after,$],[20\%$ Two months after,$],[$Total cash collections,$]]$