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

January

$179,200

February

190,400March

203,200

Credit sales in December 2020 are expected to be $224,000. The company expects to collect75percent of a month's sales in the month of sale and25percent 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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$

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