TheAccustartAntique Mall budgeted credit sales in the first quarter of 2021 to be as follows:

January $172,800

February $183,600

March $196,000

Credit sales in December 2020 are expected to be $216,000. The company expects to collect65percent of a month's sales in the month of sale and35percent in the following month.

Estimate cash receipts for each month of the first quarter of 2021.

Collection of credit sales

January February March

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