Smith Company has prepared a budget for the first six months of 2020.Monthly budgets for revenues are provided at left.Experience indicates that Elias will collect 75% of sales in the month of sale, 15% in the month following the sale, and 7.5% in the second month after the sale.The remaining 2.5% of sales are expected to be uncollectible.

Produce a cash collections budget for Elias for the months of March, April, and May 2020.Show your work.

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