Ruby Service anticipates the following sales revenue over a five-month period: November December January February March 16,000 10,600 15,000 12,200 14,200 Sales revenues The company's sales are 40% cash and 60% credit. Its collection history indicates that credit sales are collected as follows: 25% in the month of the sale 50% in the month after the sale 20% two months after the sale 5% are never collected How much cash will be collected in January? In February? In March? For the quarter in total? Cash Collections Budget For the Months of January through March December January 6000 February 5200 March 5840 November Cash sales Credit sales Collection of credit sales: 25% month of sale 50% month after 20% two months after Total cash collections