Kerwin Corporation has found that $80\%$ of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit sales, Kerwin Corporation has experienced the following collection pattern:

View the collection pattern. ${?}^4$

View additional information. ${?}^5$

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

For the Months of January through March

Cash sales

Collections on credit sales:

$25\%$ Month of sale

$50\%$ Month after

$18\%$ Two months after

Total cash collections

$4$: Collection pattern

$50\%$ received in the month after the sale

$18\%$ received two months after the sale

$5$: Additional information

November sales for last year were $$100,000,$ while December sales were $$115,000.$ Projected sales for the next three months are as follows:

$\backslash$table$[[$January sales $........,185,000],[$February sales,$120,000],[$March sales $..,195,000]]$