1. Sunshine Company is in the process of developing its first quarter budget by month and is having difficulty in determining its expected cash collections. The following actual and expected sales on account are listed: (Sunshine Co. has no cash sales)(Show calculations)

November $63,000 December $58,000

January $62,000 February $73,000

March $68,000

The credit manager helped to develop the following profile of collection behavior patterns:

1. Of a given months sales: 60% are collected in the month of sale subject to 1% cash discount.
2. 30% of given months sales are collected in the month following the sale.
3. The remaining 10% are collected in the second month following the month of the sale.
4. Bad debts are negligible and should be ignore

CALCULATIONS: JANUARY FEBRUARY MARCH

TOTALS: __________ __________ __________