The months of January, February, March

Monachino Corporation has found that 70% of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit sales, Monachino Corporation has experienced the following collection pattern: November sales for last year were $100,000, while December sales were $115,000. Projected sales for the next three months are as follows: 25% received in the month of the sale 50% received in the month after the sale 18% received two months after the sale 7% of the credit sales are never received January.sales.. $ 155,000 February sales .... ... $ 120,000 March sales ........ $ 185,000 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.) Monachino Corporation Cash Collections Budget For the Months of January through March January | 46500 Cash sales Collections on credit sales: 25% Month of sale 50% Month after 18% Two months after 46500 Total cash collections