The Penny Worth Antique Mall budgeted credit sales in the first quarter of 2018 to be as follows:

January

$141,000

February

150,000March

160,000

Credit sales in December 2017 are expected to be $194,000. The company expects to collect 95 percent of a month's sales in the month of sale and 5 percent in the following month.

Estimate cash receipts for each month of the first quarter of 2018.

Collection of credit sales

January

February

March

Collection of December sales

$

$

$

Collection of January sales

Collection of February sales

Collection of March sales

$

$

$