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: 25% received in the month of the sale 50% received in the month after the sale 20% received two months after the sale 5% of the credit sales are never received November sales for last year were $105,000, while December sales were $120,000. Projected sales for the next three months are as follows: January sales............... $ 175,000 February sales.. March sales... Requirement . $ 125,000 $ 200,000 Prepare a cash collections budget for the first quarter, with a column for each month and for the quarter. (Round your answers to the naamet whole dollar) Cash sales Collections on credit sales: 25% Month of sale 50% Month after 20% Two months after January 3100 25 3875 775