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Lachut Corporation has found that 60% of its sales in any given month are credit November sales for last year were $100,000, while December sales were sales, while the remainder are cash sales. Of the credit sales, LaChut Corporation $110,000. Projected sales for the next three months are as follows: has experienced the following collection pattern: January sales S 175,000 25% received in the month of the sale February sales 125,000 50% received in the month after the sale March sales 195,000 15% received two months after the sale Requirement Prepare a cash collections budget for the first quarter, with a column for each 10% of the credit sales are never received month and for the quarter. (Round your answers to the nearest whole dollar) Quarter February March January Cash sales Collections on credit sales: 25% Month of sale 50% Month after 15% Two months after Total cash collections