Master budgeting

Magna Corporation has prepared the following sales budget:

Month Cash Sales Credit Sales

Jan $16,000 $68,000

Feb 20,000 80,000

March 18,000 74,000

April 24,000 92,000

May 22,000 76,000

Collections are 40% in the month of sale, 45% in the month following the sale, and 10% two months following the sale. The remaining 5% is expected to be uncollectible.

Require

make schedule of cash collections for March through May.