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Monette Corporation has found that 70% of its sales in any given November sales for last year were $100,000, while month are credit sales, while
Monette Corporation has found that 70% of its sales in any given November sales for last year were $100,000, while month are credit sales, while the remainder are cash sales. Of the December sales were $115,000. Projected sales for the nex credit sales, Monette Corporation has experienced the following three months are as follows: collection pattern: 25% received in the month of the sale 50% received in the month after the sale 22% received two months after the sale Requirement 3% of the credit sales are never received Prepare a cash collections budget for the first quarter, with column for each month and for the quarter. (Round your answers to the nearest whole dollar.)
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