Ridenour Ltd. is preparing its first-quarter monthly cash budget for Year 4. The following information is available about actual Year 3 sales and expected Year 4 sales:

November	December	January	February	March
$116,200	$106,400	$110,600	$123,200	$82,600

Tracing collections from prior year monthly sales and discussions with the credit manager helped develop a profile of collection behavior patterns. Of a given months sales, 40 percent is typically collected in the month of sale. Because the company terms are 1 percent (end of month) net 30, all collections within the month of sale are net of the 1 percent discount. Of a given months sales, 30 percent is collected in the month following the sale. The remaining 30 percent is collected in the second month following the month of the sale. Bad debts are negligible and should be ignored.

a. Prepare a schedule of cash collections for Ridenour Ltd. for January, February, and March of Year 4.

Note: Enter amounts rounded to the nearest whole dollar.

Cash Collections
	January	February	March
Nov. sales	Answer	Answer	Answer
Dec. sales	Answer	Answer	Answer
Jan. sales	Answer	Answer	Answer
Feb. sales	Answer	Answer	Answer
Mar. sales	Answer	Answer	Answer
Total collections	Answer	Answer	Answer

b. Calculate the Accounts Receivable balance at March 31, Year 4. $Answer