Kerwin Corporation has found that 70% 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, Kerwin Corporation $115,000. Projected sales for the next three months are as follows: has experienced the following collection pattern: January sales. $ 175,000 20% received in the month of the sale February sales $ 120,000 40% received in the month after the sale March sales $ 185,000 25% received two months after the sale Requirement 15% of the credit sales are never received 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 wholo dollar.) Kerwin Corporation Cash Collections Budget For the Months of January through March January Cash sales Collections on credit sales: 20% Month of sale 40% Month after 25% Two months after Total cash collections