LTT Service anticipates the following sales revenue over a five-month period: Sales Revenue

November $16,400

December $11,000

January $15,000

February $12,800

March $14,400

Its collection history indicates that credit sales are collected as follows:

20% in the month of the sale40% in the month after the sale30% two months after the sale10% are never collected

How much cash will be collected in January? In February? In March? For the quarter in total?

Complete the cash budget to determine how much cash will be collected in January, February, March and for the quarter in total. (Round your answers to the nearest whole dollar.)

Gem ServiceCash Collections BudgetFor the Months of January through March JanuaryCash sales$4,500Collection of credit sales: 20% Month of sale2,10040% Month after3,08030% Two months after3,444Total cash collections$13,124