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:

$25\%$ received in the month of the sale

$50\%$ received in the month after the sale

$14\%$ received two months after the sale

$11\%$ of the credit sales are never received

November sales for last year were $$90,000,$ while December sales were $$110,000.$ Projected sales for the next

three months are as follows:

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.$)$

Sweeney 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

$14\%$ Two months after

Total cash collections