LaChut Corporation has found that 60% of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit sales, LaChut Corporation has experienced the following collection pattern: 20% received in the month of the sale 40% received in the month after the sale. 24% received two months after the sale 16% of the credit sales are never received November sales for last year were $110,000, while December sales were $115,000. Projected sales for the next three months are as follows: \begin{tabular}{|c|c|} \hline January sales... & 160,000 \\ \hline February sales & 120,000 \\ \hline arch sales. . & 165,000 \\ \hline \end{tabular} Requirement Prepare a cash collections budget for the first quarter, with a column for each month and for the quarter. (Round your answe? in the naarset wholo dillar? LaChut Corporation Cash Collections Budget For the Months of January through March Cash sales January Collections on credit sales: 20% Month of sale 40% Month after 24% Two months aftor Total cash collections