Sweeney Corporation Cash Collections Budget

Sweeney Corporation has found that 60% of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit sales, Sweeney Corporation has experienced the following collection pattern: 20% received in the month of the sale 40% received in the month after the sale 25% received two months after the sale 15% of the credit sales are never received Sweeney Corporation Cash Collections Budget For the Months of January through March November sales for last year were $80,000, white December sales were $115,000. Projected sales for the next three months are as follows: January sales... ... February sales ..... ... March sales. ..... ..... Requirement . $ 180,000 ......$ 120,000 quarter, with a column for each Lowers to the nearest whole dollar.) January February March Prepare a cash collections budg month and for the quarter. (Round Quarter Cash sales Collections on credit sales: 20% Month of sale 40% Month after 25% Two months after Total cash collections