Lee Verly will be opening his company called LV Company in January of the next year. He predicts that January, February and March will generate $160,000, $110,000 and $135,000 worth of sales respectively. The company expects to sell 25% of its products for cash. 50% of the sales on account are expected to be collected in the month of the sale, 25% in the month following the sale and the remainder in the following month. Prepare the cash receipts section of the cash budget. Do not enter dollar signs or commas in the input boxes. Round your answers to the nearest whole number. LV Company Cash Receipts For January, February and March January February March Cash sales $160000 x $110000 x $135000 Collections from credit customers $ 120000 x $82500 x $101250 Total Cash Receipts $100000 $98750 $135000 Check