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Berkner Corporation has found that 60% of its sales in any given month are credit...

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Accounting

Berkner Corporation has found that 60% of its sales in any given month are credit sales,
while the remainder are cash sales. Of the credit sales, Berkner 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 $90,000, while December sales were
$115,000. Projected sales for the next three months are as follows:
January sales............................. $150,000
February sales......................... $135,000
March sales ................. $185,000
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.)
Berkner Corporation
Cash Collections Budget
For the Months of January through March
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