Kerwin Corporation has found that 60% of its sales in any given month are credit sales, while the remainder November sales for last year were $90,000, while December sales were $110,000. Projected sales for the are cash sales. Of the credit sales, Kerwin Corporation has experienced the following collection pattern: next three months are as follows: 25% received in the month of the sale January sales. $ 175,000 50% received in the month after the sale February sales. $ 125,000 14% received two months after the sale 11% of the credit sales are never received March sales $ 200,000 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.) Kerwin Corporation Cash Collections Budget For the Months of January through March January February March Quarter Cash sales Collections on credit sales: 25% Month of sale 50% Month after 14% Two months after Total cash collections