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.