Monaching Corporation has found that 70% of its sales in any given month are credit sales while the remaindor are cash sales of the credit sales, Monachino Corporation has experienced the following collection pattern: November sales for last year were $80,000, while December sales were $120,000. Projected sales for the next three months are as follows: 25% received in the month of the sale 50% received in the month after the sale 14% received two months after the sale January sales.. ..$ February sales...............$ March sales .................$ 145,000 135,000 170.000 11% of the credit sales are never received Requirement Prepare a cash collections budget for the first quarter, with a column for each month and for the quarter. Round your answers to the nearest whole dollar) Monachino Corporation Cash Collections Budget For the Months of January through March January February March Quarter Cash sales Monachino Corporation has found that 70% of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit sales, Monachino Corporation has experienced the following collection pattern: November sales for last year were months are as follows: 25% received in the month of the sale 50% received in the month after the sale 14% received two months after the sale 11% of the credit sales are never received January sales. February sales......... ..5 March sales .................S Requirement Prepare a cash collections budget for answers to the nearest whole dollar) Monachino Corporation Cash Collections Budget For the Months of January through March January February March Quarter Cash sales Collections on credit sales: 25% Month of sale 50% Month after 14% Two months after Total cash collections