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: 20% received in the month of the sale 40% received in the month after the sale 25% received two months after the sale 15% of the credit sales are never received November sales for last year were $95,000, while December sales were $120,000. Projected sales for the next three months are as follows: January sales. February sales.. $ 155,000 $ 125,000 . $ 170,000 March sales... 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.) Cash sales Collections on credit sales: 20% Month of sale 40% Month after 25% Two months after Total cash collections Monette Corporation Cash Collections Budget For the Months of January through March January February March Quarter