Garnet Service anticipates the following sales revenue over a five-month period:

	November	December	January	February	March
Sales revenue. . . . . . . . . . . . . . . . . . . . .	$16,100	$10,600	$15,800	$12,000	$14,400

The company's sales are 30% cash and 70% credit.

Its collection history indicates that credit sales are collected as follows:

25% in the month of the sale

50% in the month after the sale

20% two months after the sale

5% are never collected

How much cash will be collected in January? In February? In March? For the quarter in total?

Complete the cash budget to determine how much cash will be collected in January, February, March and for the quarter in total. (Round your answers to the nearest whole dollar.)

Garnet Service

Cash Collections Budget

For the Months of January through March

	January / February / March / Quarter
Cash sales
Collection of credit sales:
25% Month of sale
50% Month after
20% Two months after
Total cash collections