Monette 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, 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 $$85,000,$ while December sales were $$110,000.$ Projected sales for the next three months are as follows:

January sales $...............$ $$155,000$

February sales $..............$ $$135,000$

March sales. $...............$ $$195,000$

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.$)$

Monette Corporation

Cash Collections Budget

For the Months of January through March

$\backslash$table$[[,$January,February,March,Quarter$],[$Cash sales,,,,$],[$Collections on credit sales:$],[25\%$ Month of sale,,,,$],[50\%$ Month after,,,,$],[14\%$ Two months after,,,,$],[$Total cash collections,,,,$]]$