Problem #2 Big Ed's Dog Food Corporation has found that 60% of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit sales, Big Ed's Dog Food Corporation has experienced the following collection pattern:" 25% received in the month of the sale 50% received in the month after the sale 16% received two months after the sale 9% of the credit sales are never received November sales for last year were $90,000, while December sales were $115,000. Projected sales for the next three months are as follows: January sales $145,000 February sales 125,000 March sales 180,000 Requirement: Prepare a cash collections budget for the first quarter, with a column for each month and for the quarter