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Santana Company is preparing its cash collections budget for January, February and March. Budgeted sales are as follows: ACTUAL production and production information January February Cash sales $10,000 $9,000 Credit sales 24,000 20,000 Total sales 34,000 29,000 March $7,500 16,500 24,000 Accounts receivable at 1 January were $14,000. The budget assumes that 20% of credit sales are collected in the month of sale, and the remaining 80% are collected one month later. REQUIRED: Prepare a cash collections budget in the cells provided below. March February $9,000 Cash sales January $10,000 18,800 $28,800 23200 Credit Sales Total Cash Collected $7,500 19300 $26,800 $32,200