Niedringhaus Corporations sales revenue follows: Niedringhauss management estimates that 65 percent of credit sales will be collected

Niedringhaus Corporation’s sales revenue follows:

Niedringhaus’s management estimates that 65 percent of credit sales will be collected in the month of sale with a 2% discount taken, and that 34 percent will be collected in the month following sale. What are the expected cash collections for December and January?

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Cash sales Credit sales November (Actual Sales) $ 80,000 340,000 Decenber (Projected Sales) $100,000 460,000 January (Projected Sales) $ 60,000 380,000