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St. Germaine Corporation has found that 80% of its sales in any given month are...

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Accounting

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St. Germaine 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, St Germaine Corporation has experiencod the following collection pattem: 25% received in the month of the sale 50% received in the month afier the sale 18% received two months after the sole 7% of the credit sales are never received Nowember 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. $ 185,000 February sales $ 130,000 March sales................ $ 195,000 Requirement Prepare a cash colloctions budget for the first quarter, with a column for each month and for the quarter. (Round your answers to the nearest whole dollar) St Germaine Corporation Cash Collections Budget For the Months of January through March January Cash sales Colections on credit sales: 25% Month of sale 50% Month after 18% Two months after Total cash collections

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