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E9-27A (similar to): Cash Collections Budget Iderman Corporation has found that 60% of its sales...

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E9-27A (similar to): Cash Collections Budget Iderman 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, Alderman Corporation has experienced the following collection pattern: 25% received in the month of the sale 50% received in the month after the sale 16% received two months after the sale 9% of the credit sales are never received November sales for last year were $95,000, while December sales were $110,000. Projected sales for the next three months are as follows: January sales. . . . . . . . . . . . . . . . $155,000 February sales ............... $120,000 March sales ................. $170,000 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.)

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