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 15% received two months after the sale 10% of the credit sales are never received November sales for last year were $85,000, while December sales were $120,000. Projected sales for the next three months are as follows: January sales...... February sales $ 165,000 $ 135,000 $ 195,000 March sales.. Requirement Prepare a cash collections budget for the first quarter, with a column for each month and for the quarter. (Round your answer in the tale dallme For the Months of January through March January Cash sales Collections on credit sales: 25% Month of sale 50% Month after 15% Two months after Total cash collections 1 Check