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: 25% received in the month of the sale 50% received in the month after the sale 15% received two months after the sale 10% of the credit sales are never received November sales for last year were $95,000, while December sales were $120,000. Projected sales for the next three months are as follows: January sales..... February sales. March sales $ 145,000. $ 130,000 $ 165,000 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 Cash sales Collections on credit sales: 25% Month of sale 50% Month after 15% Two months after- Total cash collections Calculator 2 #3 3 Samson Corporation Cash Collections Budget For the Months of January through March January 20 900 608 2 4 % 85 February FS March Quarter MacBook Pro & 100 DII FA M a Next A F15 8 FI A 9 19 6 7 8 9 0