View the collection pattern.

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Requirement

Prepare a cash collections budget for the first quarter, with a column for each month and for the quarter. $($Round your answers to the nearest whole dollar.$)$

Additional information

Sweeney Corporation

Cash Collections Budget

For the Months of January through March

January

Cash sales

Collections on credit sales:

$25\%$ Month of sale

$50\%$ Month after

$15\%$ Two months after

Total cash collections

Collection pattern

November sales for last year were $$95,000,$ while December sales were

$$115,000.$ Projected sales for the next three months are as follows:

$25\%$ received in the month of the sale

$50\%$ received in the month after the sale

$15\%$ received two months after the sale

$10\%$ of the credit sales are never received