Monachino Corporation has found that 80% 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 24% received two months after the sale 1% of the credit sales are never received November sales for last year were $90,000, while December sales were $110,000. Projected sales for the next three months are as follows: January sales February sales March sales Requirement $ 165,000 $ 135,000 $ 175,000 Prepare a cash collections budget for the first quarter, with a column for each month and for the quarter. (Round your answers to the nearest whole dollar.) Cash sales Collections on credit sales: 25% Month of sale 50% Month after 24% Two months after Total cash collections Monachino Corporation Cash Collections Budget For the Months of January through March January $ 33,000 33,000 44,000 Question Viewer