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Monette Corporation has found that 80% 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: November sales for last year were $80,000, while December sales were $125,000. Projected sales for the next three months are as follows: 6 25% received in the month of the sale 50% received in the month after the sale 24% received two months after the sale 1% of the credit sales are never received January sales S 165.000 February sales 135.000 March sales 175,000 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 January February March Quarter Cash sales Collections on credit sales: 25% Month of sale 50% Month after 24% Two months after Total cash collections Enter any number in the edit fields and then continue to the next