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

January

$163,200

February

173,400

March

185,200

Credit sales in December 2020 are expected to be $204,000. 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

Collection of December sales

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$

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$

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Collection of January sales

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Collection of February sales

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Collection of March sales

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$

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$

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