Samson 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, Samson Corporation has experienced the following collection pattern: November sales for last year were $110,000, while December sales were $120,000. Projected sales for the next three months are as follows: 25% received in the month of the sale 50% received in the month after the sale 14% received two months after the sale 11% of the credit sales are never received January sales. S 145,000 February sales S 135,000 March sales .S 195,000 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.) Samson Corporation Cash Collections Budget For the Months of January through March January February $ 29.000 Cash sales Collections on credit sales: 25% Month of sale 50% Month after 29.000 48.000 12.320 14% Two months after $ Total cash collections 118,320