Monette Corporation has found that 60% of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit sales, Monette Corporation has experienced the following collection pattern: 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 November sales for last year were $100,000, while December sales were $110,000. Projected sales for the next three months are as follows: January sales............. $ 185,000 February sales. March sales Requirement $ 115,000 195,000 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 14% Two months after Total cash collections Monette Corporation Cash Collections Budget For the Months of January through March January 74,000 27,750