Kerwin Corporation has found that 80% of its sales in any given month are credit sales, while the remainder are cash sales. Of November sales for last year were $110,000, while December sales were $120,000. Projected sales for the next three months the credit sales, Kerwin Corporation has experienced the following collection pattern: are as follows: 25% received in the month of the sale 50% received in the month after the sale 24% received two months after the sale January sales.. 150,000 February sales $ 130,000 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.) 1% of the credit sales are never received Kerwin Corporation Cash Collections Budget For the Months of January through March January Cash sales Collections on credit sales: 25% Month of sale 50% Month after MITE 24% Two months after Total cash collections