Sound Investments, Inc., is a large retailer of stereo equipment. The controller is about to prepare the budget for the first quarter of

$202.$ Past experience has indicated that $70$ percent of the store's sales are cash sales. The collection experience for the sales on

account is as follows:

$85$ percent during month of sale

$10$ percent during month following sale

$5$ percent uncollectible

The total sales for December $201$ are expected to be $$203,000.$ The controller feels that sales in January $202$ could range from

$$113,000$ to $$173,000.$

Required:

Demonstrate how financial planning can be used to project cash receipts in January of $202$ for three different levels of January

sales. Use the following columnar format.