Holiday Corporation has found that 60% of its sales in any given month November sales for last year were $90,000, while December sales are credit sales, while the remainder are cash sales. Of the credit sales, were $115,000. Projected sales for the next three months are as 1 Holiday Corporation has experienced the following collection pattern: follows: 25% received in the month of the sale January sales ...... $ 145,000 3: 50% received in the month after the sale February sales $ 125,000 16% received two months after the sale March sales $ 180,000 4 9% 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) 6: Cash Collections Budget For the Months of January through March ch January February March Quarter Cash sales 7: Collections on credit sales: 25% Month of sale Che 50% Month after 16% Two months after ch: Total cash collections