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 $105,000, while December sales were $125,000. Projected sales for the next three months are as follows: 170,000 25% received in the month of the sale January.sales..... . . . . . . . . . $ February.sales...............$ 135,000 50% received in the month after the sale 15% received two months after the sale 10% of the credit sales are never received March sales .................$ 175,000 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 Cash sales Collections on credit sales: 25% Month of sale 50% Month after 15% Two months after Total cash collections