E (1).p Homework: Chapter 9 Homework Question 4, E9- 30A (similar to) Part 1 of 4 Kerwin 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, Kerwin Corporation has experienced the following collection pattern: 25% received in the month of the sale 50% received in the month after the sale 24% received two months after the sale 1% of the credit sales are never received HW Score: 49.64%, 4.96 of 10 points O Points: 0 of 2 Save November sales for last year were $85,000, while December sales were $110,000. Projected sales for the next three months are as follows: January sales.... February sales March sales Requirement ..$ 175,000 $ 135,000 $ 185,000 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 2 Cash sales Collections on credit sales: 25% Month of sale 50% Month after 24% Two months after Total cash collections Cash Collections Budget For the Months of January through March January