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Sweeney Corporation has found that 6 0 % of its sales in any given month are credit sales, while the remainder are cash sales. Of

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
15% received two months after the sale
10% of the credit sales are never received
November sales for last year were $85,000, 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
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