Gammaro 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 Gammaro Corporation has experienced the following collection pattern: | November sales for last year were $80,000, while December sales were $110,0n0. Projected sales for the next three months are as rllows $ 155,000 115,000 165,000 January sales .. February sales March sales 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 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) January Cash sales Collections on credit sales: 25% Month of sale 50% Month after 15% Two months after Total cash collections