Smith Corporation has found that 70% of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit sales, Smith Corporation has experienced the following collection pattern: Na 25% received in the month of the sale 50% received in the month after the sale 22% received two months after the sale 3% of the credit sales are never received Fet Mar Regu Preps answ Smith Corporation Cash Collections Budget For the Months of January through March January Cash sales Collections on credit sales: 25% Month of sale 50% Month after 22% Two months after Total cash collections Enter any number in the edit fields and then click Check Answer. 3 parts 5 remaining Clear All November sales for last year were $95,000, while December sales were $110,000. Projected sales for the next three months are as follows: January sales. $ 160,000 February sales... $ 115,000 March sales ..... .....$ 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.)