LaChutt Corporation has found that 80?% of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit sales, LaChut Corporation has experienced the following collection? pattern:
20% received in the month of the sale
40% received in the month after the sale
22% received two months after the sale
18% of the credit sales are never received.
November sales for last year were 85,000?, while December sales were $110,000.
Projected sales for the next three months are as? follows:
|
January sales. . . . . . . . . . . . . .
|
$150,000
|
|
February sales. . . . . . . . . . . . .
|
$115,000
|
|
March sales. . . . . . . . . . . . . . .
|
$190,000
|
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.