The total A/R collection for each month: January, February, and March.

29 PART 2 30 Assume all sales occur evenly during the year, i.e., each month represents 1/12th of 11 annual sales (as estimated for Q3). All sales are made on account and the following additional 32 information pertaining to Accounts Receivable is used for budgeting purposes 33 14 Sales by month in 2020 35 November Sales 750,000 700,000 36 December Sales $ 37 34 Accounts Receivable Collection Schedule as % of Sales 39 In month of Sale 45% 40 In month following the Sale 30% 43 In the 2nd month following the Sale 20% 42 Expected Bad Debts 5% 41 44 Complete the following Cash Collections Schedule on Sales for Q1 2021 in order to answer 4s Questions 6, 7, and 8 pertaining to the budgeted cash collections in Jan, Feb, & Mar 46 47 Month of Sale Accounts Receivable January 4 November $ 49 December 750,000 700,000 so January 51 February 52 March s Total Cash Collected i 54 55 S 50 S 50 S 06 Amount Collected in February 150,000 210,000 $ 140,000 360,000 $ 140.000 07 March Q8 Note these Questions Place answers in cells D53, E53, and F53 respectively reg from A/R collected in January, February, and March