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% recoived in the month of the sale 40% received in the month attor the sale 24% received two months after the sole 16% of the credit salos are never received November sales for last yoar were $110,000, while December sales wore $115. Projected sales for the noxt three months are as follows. \begin{tabular}{ll} \hline January sales ............... \$ & 160,000 \\ Fobruary sales .............. \$ & 120,000 \\ March sales ................. \$ 165,000 \\ \hline \end{tabular} Requirement Prepare a cash collections budget for the first quarter, whe a column for each mo for the quarter. (Round your answers to the nearest whole dollar.) Lachut Corporation Cash Collections Budget For the Months of January through March Cash sales January Collections on credit sales: 20\% Month of sole 40% Month aher 24% Two months after Total cash collections