Score: 0 of 1 pt 5 of 5 (1 complete) HW Score: 0%, 0 of 5 T16-6 (similar to) s Question Help Illuminate Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. The following data are available for the year 2017 (Click the icon to view the additional information.) All sales are made on account with 75% of sales made in a quarter collected in the same quarter and 25% collected in the following quarter. Calculate the cash collected from receivables in each of the 4 quarters of 2017. (If a box is not used in the table leave the box empty, do not enter a zero.) Schedule of Cash Collections Data Table Quarters 1 2 3 4 Accounts receivable balance on 1-1-2017 $ 50,000 240,000 (Fourth quarter sales from prior year) From first-quarter 2017 sales From second-quarter 2017 sales From third-quarter 2017 sales From fourth-quarter 2017 sales Accounts receivable (January 1, 2017) Budgeted sales in Quarter 1 (January 1 to March 31, 2017) Budgeted sales in Quarter 2 (April 1 to June 30, 2017) Budgeted sales in Quarter 3 (July 1 to September 30, 2017) Budgeted sales in Quarter 4 (October 1 to December 31, 2017) 225,000 190,000 255,000 Total collections Print Done