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Monette Corporation has found that 80% of its sales in any given month are credit November sales for last year were $80,000, while December sales were sales, while the remainder are cash sales. Of the credit sales, Monette Corporation has $130,000. Projected sales for the next three months are as follows: experienced the following collection pattern: January sales $ 150,000 20% received in the month of the sale February sales 135,000 40% received in the month after the sale March sales 170,000 22% received two months after the sale Requirement 18% of the credit sales are never received 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 January February March Quarter Cash sales Collections on credit sales: 20% Month of sale 40% Month after 22% Two months after Total cash collections Video Get more help - Clear all Check